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Originally Posted by doh
Detroit only began working on redesigning that model a few years ago, and now it's probably too late, Mr. Casesa noted.
“I think these events will lead to a much smaller North American-owned auto industry,” he said. “Detroit's domination is over.”
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Detroit's domination has been over for quite some time.
They just refused to realize it. Plus the union has also failed to realized it, forcing the Big 3 to remain non-competitive.
GM and Chrysler's strategy has been ineffective and outmoded. And while GM has started reversing it's strategy this decade, it's really about a decade too late. They couldn't afford any stumbles on their brand turnarounds, yet every single one has failed.
Quote:
Originally Posted by doh
But the credit crisis has effectively eliminated their ability to raise money, which means GM won't be able to finance a merger with Chrysler, industry sources said.
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Look for a Chapter 11 filing by one or more of the Big 3 by end of Q1 next year. That's my guess.