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October 17, 2008

They used to be known as the Big 3. Then they got much smaller, and GM, Ford, and Chrysler became known as the Detroit 3. Soon they might be the Detroit 2.

The news that General Motors is exploring some kind of merger with Chrysler is a startling turn in an industry where pride, heritage, and protection of your turf have been key parts of the business plan. But in Detroit, clearly these are desperate times. Plunging sales have hit the domestic carmakers much harder than their competitors, largely because of an overreliance on big gas guzzlers that many people can't afford these days. The credit crunch and deepening recession are scaring off even more buyers and leaving the automakers threadbare. If the rocky road persists into 2009—which seems likely—GM and Ford could run short of cash and face the probability of bankruptcy. Chrysler—which is now privately owned and enduring the steepest sales dropoff of all—might already be veering off the road.


Complete Article Link:In Detroit, Chrysler is Crashing First - FlowChart (usnews.com)
 
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