Tuesday, February 17, 2009

GM may close European plants in cash drain

General Motors Corp. may be forced to close several European production plants. The USA car business is in such bad shape, that the US auto giant may have no other choice. The Automotive News reports in yesterday's editions of the European edition.

 Millions of sales are lost in what continues to be a tough time for many Americans who fear losing their jobs in the downturn economy around the USA. There is an economic stimulous package that has just passed both the House and the Senate in recent days, but this does little to give the average consumer the confidence to invest in automobiles and trucks at this time.

 Many auto dealers in the US have had no choice but to close up shop, taking automotive jobs along with them. Salespersons, finance, service, and auto technicians have been hit hard in the recent months with all of the dealerships that have closed across the USA.  

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