Friday, June 26, 2009
GM bankruptcy kills suppliers
There are many reasons why GM cannot recover. For one, gas price are going up. Also, the market for automobiles is way down as consumers have trouble getting car loans. Also, GM bankruptcy is killing suppliers of vital car parts. The entire automotive industry is in a crisis.
Sadly, many automotive manufacturers are seeling part suppliers fold like a tent. I predict that sales of cars next year will be even worse.
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