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.
