Those cheering for Detroit's demise may want to reconsider
Even foreign automakers will feel the pain of Detroit's demise in a big way. Toyota, Nissan and Honda have all been hammered by the credit crunch in the last couple of months and their sales will likely drop further if people lose their jobs due to the failure of one or more of the Detroit automakers. The suppliers that will surely fail also supply Japanese-, German- and South Korean-owned factories in the U.S., so their collapse will have a huge impact on companies not based in Detroit.
Yes, the Detroit 3 have made a lot of stupid product decisions over the years and wasted a lot of money, but allowing the free market to pull them under will create a ripple effect that reaches more than just the shores of the Detroit River.
[Source: Detroit News, Photo by Paula Bermudez | CC 2.0]
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