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Based on an assessment that automobile manufacturing was a critical sector of the economy providing 3 to 4 million jobs for Americans, that liquidation was imminent for two of the three major U.S. automakers, and that the break ups would devastate the U.S. economy, the U.S. government became involved in the day-to-day management decisions of ...
US automobile manufacturing, 1993–2021. At the time, the Big Three employees, parts-supplier employees and car-dealer employees totaled approximately 1.6 million. [18] All auto-related industries and after-market service businesses employed approximately 3.1 million people in the United States.
Nissan, another leading Japanese car manufacturer, announced that it also would be slashing production and will reduce its output by 80,000 vehicles in the first few months of 2009. [18] In December 2008, Suzuki, Japan's fourth biggest car manufacturer, announced that it will cut production in Japan by about 30,000 units due to falling demand ...
While the company was hemorrhaging money in North America and Europe and hurtling towards bankruptcy and a bailout, sales and profits from China allowed it to keep the lights on. ... largest car ...
After adding an economic crisis to a financially unhealthy automaker, General Motors looked ready for collapse near the beginning of 2009. In response to the potential damage GM's collapse would ...
Just how close was Ford to going out of business? Closer than you think says Detroit News journalist Bryce Hoffman, author of "American Icon: Alan Mulally and the Fight to Save Ford Motor Company."
The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11, Title 11, United States Code in the United States bankruptcy court for the Southern District of New York.
General Motors Corp. (GM) and Chrysler have received $17.4 billion in U.S. funds (so far), which they received only after much congressional teeth gnashing. Meanwhile, American International Group ...