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GM, Chrysler and Ford destined to doom?!

Submitted by DA on Thursday, 20 November 2008No Comment

Seems the economic pressure is on for the big 3 of US auto-industry GM, Chrysler and Ford. Talks are rampant of imminent bankruptcy. Wonder where that would lead to in the Kuwait auto-market? There is even talk of Chinese auto-industry plans to buy in some of these auto-giants. I guess its best advisable to wait and watch before big purchases, because the US Federal Reserve [Central Bank] has announced that US markets will be hit with recessionary pressures througout 2009, and that would impact the any federal assistance to the suffering auto giants.

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