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Chrysler Idles a Van Plant, Citing Need to Cut Costs
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Shifts in customer buying habits in the U.S. auto industry that hurt GM, Ford and Chrysler in 2008-2009
04/12/2006
Shifts away from larger vehicles in the American auto industry. A significant shift was underway in the US auto industry by the middle of 2008 towards fuel efficient automobiles as gasoline prices went over $4.00 per gallon, and consumer net worth declined significantly with decline in housing and stock prices causing cuts in spending. The situation in 2008-2009 before the government led bailout and the planned bankruptcies of GM and Chrysler.
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