[ANTHONYD]

darkpuppet,Sep 19 2005, 04:43 PM Wrote:sobering news article on the US auto industry

some clips from it...

Quote: DETROIT (Reuters) - A miserable year for U.S. automakers General Motors Corp. (GM) and Ford Motor Co. (F) looks set to turn even worse in the aftermath of Hurricane Katrina.

...

"SUV sales aren't just slowing -- they're crashing to a halt," he told Reuters, referring to traditional truck-based SUVs, not the "crossover" car-based variety that deliver better highway performance and fuel economy.

...

Analyst David Healy of Burnham Securities told Reuters in an interview last week that neither company is likely to return to profitability in North America before 2008.

...

U.S. carmakers' heavy dependence on big SUVs amid stalling demand was a factor cited by the Standard & Poor's ratings agency when it downgraded the debt of GM and Ford to high-yield, or "junk," status in May.

The auto giants, weakened by their seeming inability to sell enough cars without the use of profit-eroding discounts, have also been struggling under the burden of soaring costs for everything from health care to raw materials.

...

But tensions are mounting in Detroit, a redoubt of American trade unionism, as the U.S. carmakers bleed a slow but seemingly unstoppable flow of market share to foreign rivals led by Toyota Motor Corp. .

a bit sensationalist, but pretty sobering thoughts...
[right][snapback]143185[/snapback][/right]

I smell a market crash.

I say good!

FU ck em'.