It's Gonna Get A LOT Worse...
Peter DeLorenzo of AutoExtremist.com really believes that this is the beginning of the end, at least for awhile, for GM and Ford. I tend to agree. Here you have two manufacturers, who in the last five years, have made all of their money on the SUV market. In turn, they have put a lot of money into developing new SUVs and SUV producing plants in the U.S. Everybody told them the bubble would burst. The bubble burst last week, and it came in the form of a large hurricane. Katrina brought devastation, destruction, heartbreak, and death to many in the deep south. It also brought a permanent increase, amongst other factors, in gas and oil prices (see Dad29.blogspot.com for a nice article on this today). It will be a very bleak fall, winter, and spring for GM and FoMoCo, and I'm glad I will not partake.
For the article, a must read, check it out at: