Toyota sees its first annual loss in over 50 years and Nissan will be cutting 20,000 jobs this year. However, both these companies remain in a better financial situation then any of the domestic car manufacturers here in the United States. Still not good news for the car industry either way.
I heard it said, though I haven’t verified it myself, that even if production were to stop today, we’d have enough new cars on the lots and in storage facilities to last for possibly up to five years. Kinda goes to show just how big the bubble really was and how inept management has been over the last few years not just domestically but internationally as well. The only difference is the scale of the ineptitude. If there’s one optimistic outlook to struggling car companies its that they may yet be forced to create better cars… not just in the environmental sense but in every other facet as well. Afterall, being green isn’t the only thing that will sell a car. One can only hope.