The crumbling economy is bothering all kind of Industries and people. You can hardly see any industry that is doing OK with the present situation.
Oil prices have gone so down that one can’t imagine that there could be such a lower price for oil. But people are not willing to spend on cars as oil prices have declined. It would be a big joke if somebody ever did that. As a result we see sales are declining in the auto industry in this quarter. There are many big auto industries which are likely to go bankrupt unless they get some aid from someone.
The $34 billion bailout plan, proposed by the top three auto industries may not be really as sufficient for them to survive. As we can see the bad times are likely to continue for more months. And probably it won’t be practical to look for government every time to help them.
But there are many ways for auto industries to cope up with the situation. The best thing would be to take aid of the government to raise the consumer confidence. And then provide people with proper aids to purchase their products.
Oil prices have gone so down that one can’t imagine that there could be such a lower price for oil. But people are not willing to spend on cars as oil prices have declined. It would be a big joke if somebody ever did that. As a result we see sales are declining in the auto industry in this quarter. There are many big auto industries which are likely to go bankrupt unless they get some aid from someone.
The $34 billion bailout plan, proposed by the top three auto industries may not be really as sufficient for them to survive. As we can see the bad times are likely to continue for more months. And probably it won’t be practical to look for government every time to help them.
But there are many ways for auto industries to cope up with the situation. The best thing would be to take aid of the government to raise the consumer confidence. And then provide people with proper aids to purchase their products.
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