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Auto price hikes trigger GM layoffs and dealer woes
Detroit based report shows General Motors cutting second shifts at three plants and slowing assembly lines, laying off about 6,000 workers as sales slump 34 percent mid October. Chrysler threatens plant closure putting 5,000 Detroit jobs at risk amid 95 day car stock. Auto stocks tumble as industry sees 28 percent below year ago figures. Prices up about 400 dollars at model introduction, fueling buyer resistance and cautious outlook from dealers.
MENTIONED IN THIS ARTICLE
Jonathan Wolman
Associated Press
Detroit
General Motors
Chrysler
Wall Street
Ford
Krysler
New York Stock Exchange
U.S
Ray Windecker
Ford Motor. Ca
Neal