The effects of the crisis starts to feel among the car companies. From 2002 to 2008 GM "lost" 93000 employees from 177000 they had in 2002. But they won`t stop here – this year they want to fire another 13.400 in an attempt to save the company.
Ford and Chrysler don`t stand to well either. Only in US ford fired around 65.000 workers and Chrysler around 32.000. They say this won`t be the end. Until June, more workers could lose their jobs and that total of fired workers could reach 200.000 in just 2 years.
This is a really bad news.
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Yes, the Russia is affected by the general crisis as well. This combined with the falling prices on oil makes a hard time for the Russian people and thus for the car sales. Ford is also affected and they`ll stop the production at their factory in Russia for 1 month. The same thing announced Renault regarding their plant in Russia.
Yes, the Russia is affected by the general crisis as well. This combined with the falling prices on oil makes a hard time for the Russian people and thus for the car sales. Ford is also affected and they`ll stop the production at their factory in Russia for 1 month. The same thing announced Renault regarding their plant in Russia.
The UK`s Sunday Mail is reporting something very interesting. Ford has returned to SAIC(Shanghai Automotive Industry Corp. in order to sell Volvo to them. SAIC is one of the leading contenders to snap up Volvo. Ford wants to sell Volvo after almost 2 years in which they said it wasn`t for sale. I gues the Crisis really affected them. More surprisingly they sell Volvo on a lower price than they originally bought it, $6 Billion, instead of $6.4 Billion.
Besides SAIC, Hyundai Motor CO. is also interested in buying Volvo as well as the Swedish government. It`s still unclear how the sale of Volvo to SAIC will affect the sales of Volvo Cars.We`ll just have to wait and see.
In 1999 Ford bought Volvo for $6.4 Billion and now, in plain crisis they want to sell the Swedish brand for $6 Billion in an attempt to cut the costs. Well, Volvo isn`t exactly the hottest catch since the entire auto market is struggling to stay alive and the reported sales were down 24% in the third-quarter. Volvo has cut thousands of jobs and has been in recent talks with the Swedish government about some financial support. A few buyers already made their appearance:SAIC Motor Corp from China,Hyundai Motor Co., from South Korea and the Swedish government which can become the temporary owner until a suitable industrial buyer is found.
We hope the best for Volvo since they gave us a few cool cars: S60, S80, XC90,etc.
At the beginning of the 2009 Ford will suspend Car production in their Factory from Spain, Almussafes for 21 days. This is due to the Crisis and will affect the 5.177 people working there. They say that no one will be fired and there is no need to worry since Renault announced a similar thing.
Well, Ford wants to sell the Factory from Blanquefort, France that produces Automatic Gearboxes for Models delivered in Thailand, US and Australia. They`ll finish the current production in 2011 and they hope to finish the negotiations until March 2009.
The French Govern wanted to save the jobs of those 1600 workers from the factory and selling it is the best course of action. The new buyer wants to extend the Factory and thus to hire new workers. They didn`t said who the Buyer is.
Yes, It`s true. After the general crisis and the announcements made by ford America that they could close their gates forever, Ford Europe announced that they had a profit of $54.000.000 for the third quarter. This is quite a good announcement since a few days ago the same company said that the European auto industry will need around $40.000.000.000 to save it from collapse.
Ford loosed just 2.4% from the market and so they think that 2009 will be another year with some profit. We hope the best for them.
