TheStreet.com reports:
It all happened in 2008: The price of crude oil shot up to nearly $150 dollars a barrel, and auto sales plummeted. The key takeaway from this systemic event was the historical change in the way people looked at automobiles and the way automakers built them.
Then a second shock hit the global economy: a credit crisis. Credit availability tightened. Consumers used to purchasing or leasing cars on attractive terms could no longer do so.
These economic events took a lot of wind out of the auto manufacturer's sails and placed a lot of money on the sideline. And, for a very good reason; sales are the backbone of the auto industry...
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