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Auto Industry Recession

Chrysler suspends production

Chrysler LLC suspends US production for at least a month. Could  this be an indication that indeed the company and the other two big auto companies are bleeding inside?

In a report posted over at CNN.com, the 30 plants of the company will close after the last shift on Friday and the employees were told not to return to work before January 19 next year. In this latest move, the company put the blame on the continued lack of consumer credit for the American car buyer for the continued downward spiral movement of the sales not just for Chrysler but for other auto companies. Normally, the company shuts down its operation starting December 24 and will usually lasts til January 5. But this time, circumstances are different.

Chrysler LLC is not the only automaker that has decided to suspend operations for the first month next year. General Motors also announced last year that it will be idling 30 percent of its North American plants for the first quarter of 2009. Ford also made a move and indicated thru a spokeswoman that the company is adding a week to its normal two-week seasonal and normal shutdown.

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