New car sales are down. No sense in making more cars if the ones that already exist are not selling. Layoffs are just the first step. Chapter 11 then bankruptcy may be in their future.
What happens with all those big fat pensions when the manufacturer goes out of business?
***New car sales are down.***
I a reminded of the 1970s and early 1980s when the fear of buying a new car was “Will there be gasoline in a few years?”
One co-worker modified his truck with a Diesel tractor engine. He got GREAT MILEAGE but could not go over 25 miles an hour.