Archive for November 2023

Automotive industry crisis of 2008–10 Automotive,industry,crisis,of,2008–10 The,automotive,industry,crisis,of,2008–2010,was,a,part,of,a,global,financial,downturn,The,crisis,affected,European,and,Asian,automobile,manufacturers,,but,it,was,primarily,felt,in,the,American,automobile,manufacturing,industry,The,downturn,also,affected,Canada,by,virtue,of,the,Automotive,Products,Trade,Agreement1 The,automotive,industry,was,weakened,by,a,substantial,increase,in,the,prices,of,automotive,fuels2,linked,to,the,2003-2008,energy,crisis,which,discouraged,purchases,of,sport,utility,vehicles,SUVs,and,pickup,trucks,which,have,low,fuel,economy3,The,popularity,and,relatively,high,profit,margins,of,these,vehicles,had,encouraged,the,American,”Big,Three”,automakers,,General,Motors,,Ford,,and,Chrysler,to,make,them,their,primary,focus,With,fewer,fuel-efficient,models,to,offer,to,consumers,,sales,began,to,slide,By,2008,,the,situation,had,turned,critical,as,the,credit,crunch,4,placed,pressure,on,the,prices,of,raw,materials Car,companies,from,Asia,,Europe,,North,America,,and,elsewhere,have,implemented,creative,marketing,strategies,to,entice,reluctant,consumers,as,most,experience,Automotive,industry,crisis,of,2008–10 ,

5 Auto Industry Trends That Will Drive Up Costs in 2023? This month’s #CCCTrends report takes a closer look at key #autoindustry data from 2022 to find out how trends like #inflation and high gas prices will impact the cost of vehicle ownership in 2023.