The News Review:
- GM dealers in shadow of bad news
- SARAH A. WEBSTER
- Japanese car makers upbeat on 2009 China sales
- Johnson Controls 2Q Loss Nearly $200M; Sees Pft Ahead
GM dealers in shadow of bad news
United Press International
auto dealers need to prepare for the possibility of the U. automaker’s bankruptcy an attorney who represents auto dealers said. “They are going to have to plan to operate without any expectation of when and if that money is going to come in the door” attorney Scott Silverman a partner at McCarter & English in Massachusetts told USA Today.
SARAH A. WEBSTER
Detroit Free Press
car when tech-savvy types can configure one in their garage by rewiring their existing hybrids. Three years ago the magazine Popular Mechanics even wrote an article prodding the auto industry for not building the 100 m. “They reality always seems to be just a few years away” the magazine complained.
Japanese car makers upbeat on 2009 China sales
MarketWatch
“China’s economy and auto industry are continuing their steady growth amid the global economy slowing down” Katsuaki Watanabe Toyota president said at a press conference at the Shanghai auto show. The Chinese auto market is showing surprising resilience with sales in March climbing 5% to a record 1. 11 million vehicles helped by government stimulus initiatives to boost spending such as tax cuts and other subsidies on auto purchases. This is a major improvement from the last six months when car sales slowed amid the global financial crisis. The country’s vehicle sales growth slowed to 6.
Johnson Controls 2Q Loss Nearly $200M; Sees Pft Ahead
Wall Street Journal
) DETRIT (Dow Jones) — Johnson Controls Inc. (JCI) on Tuesday reported a second-quarter loss of nearly $200 million after the auto parts supplier was unable to shake off the historic industry downturn that has led to steep production cuts by its auto maker customers. Steve Roell Johnson Controls’ chief executive officer said he has yet to see any bottoming out in the auto and housing sectors and the company will continue slashing jobs and closing plants to control costs. The company makes auto.
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