U.S. automakers are struggling to stay afloat heading into 2009 under the weight of an economic meltdown, the worst auto sales in decades and a tight credit market. GM, Ford and Chrysler went through nearly $18 billion in cash reserves during the past quarter. To survive, Ford is planing to sell their European Brand- Volvo.
Earlier of this year, Ford has already sold Jaguar and Land Rover to Tata, an Indian Car company.
Wednesday, December 3, 2008
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