This is why the automakers should have moved ALL their manufacturing to China 10 years ago. When it is time to cut workers, they get basically nothing, not insane payouts like this DETROIT (Reuters) - Nissan Motor Co Ltd said on Wednesday that it would offer buyouts of up to $125,000 to workers at two plants in Tennessee to cut costs as the company reduces truck production in response to a sales slump. http://news.yahoo.com/s/nm/20080730/us_nm/nissan_dc
Wow that's pretty bad. My original statement came after reviewing this article from New Yorker on how for the first time GM's been outperformed in annual sales, by Toyota. http://www.newyorker.com/talk/financial/2008/05/12/080512ta_talk_surowiecki
Right, the long term trend is still in place. I agree. It was a monthly drop on a YoY basis, not a YoY only basis. So, I was off a little. http://www.msnbc.msn.com/id/25472836/ updated 2:30 p.m. PT, Tues., July. 1, 2008 DETROIT - General Motors Corp. soundly beat Toyota Motor Corp. in June to retain its traditional U.S. sales lead, but GM sales still dropped 18.2 percent during a dismal month for large automakers. Toyotaâs U.S. sales fell 21.4 percent, while Ford Motor Co. said it sales tumbled nearly 28 percent. Chrysler LLC took a huge hit for the month with sales down 35.9 percent.