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Tag Archives: great recession
Household Income Continues to Fall Significantly as Federal Government Claims the Great Recession is Officially Over
Real median annual household income has fallen significantly more during the so called economic recovery period from June 2009 to June 2011 than during the recession lasting from December 2007 to June 2009. That’s right, not only do we a jobless recovery, but we have one where incomes are dropping. Since when are politicians in the business of making people poorer in a grim reversal of the American Dream?
The report is bad news for the auto industry, which remains in a severe slump caused in part by record high new car prices – now averaging more than $30,000 a vehicle, and projections of even higher prices to come because of new emissions and safety regulations. Continue reading
August Auto Sales Down Again, Below Recent Predictions
Hurricane Irene only added to ongoing auto sales woes, as consumer confidence declined yet again. Housing prices also dropped and not only the ones under water; the Federal government admitted, finally, that real GDP growth for the first half of 2011 was less than 1%; while Federal Reserve Board meeting notes showed that the governors were at a loss as to what to do next to stimulate a stalled economy. Continue reading
Posted in auto news, economy, marketing, news analysis, results, sales
Tagged august results, auto informed, auto news, auto sales, autoinformed, autoinformed.com, automotive news, gdp, great recession, j.d power, Ken Zino, results, sales results, u.s. auto sales, zino
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Another 400,000 Apply for Unemployment as Congress takes Month-Long Paid Vacation. No Job Creating Policies in Place
A new U.S. Senate report from the Joint Economic Committee says this: “Two years after the Great Recession officially ended, (Does anybody really believe the recession ended?) unemployment remains above 9% (the real rate is likely 12% or more). Equally alarming, the record long-term unemployment that characterized the Great Recession has shown few signs of abating and remains at near-record levels. Almost 4.5 million workers have been unemployed for a year or more. Another 1.7 million have been jobless for between six months and a year. Continue reading
Bye Bye American Dream – One in Four Could Not Pay for a Major Automobile Repair in Latest Economic Survey From AAA
One in four American drivers could not pay for a car repair of $2,000 if faced with one today, according to the results of a survey released today by AAA. The survey also said one in eight would be unable to pay for a repair bill of $1,000 – easily reached with overly complex vehicles on the road. Continue reading
If Vehicles are So Appealing Why Aren’t they Selling?
The J.D. Power survey – financed by automakers – begs the question: if the new cars and trucks are so bloody enticing why is the U.S. auto market stuck in the doldrums? Continue reading
Freight Shipments Decline in May for Second Straight Month
Worse, from an economic point of view, freight declined three out of the past four months, and reached the lowest level in since November of 2010. In May 2011 freight shipments were approximately the same as they were in October 2008 after the global markets collapsed. Continue reading
Ford to Build a Second Engine Plant in China
Ford Motor Company and its government dictated partners are building new engine plant in China that is due to open in 2013. With the additional capacity of 400,000 units at the new facility, Ford’s joint venture, Changan Ford Mazda Automobile Ltd (CFMA) is more than doubling its existing engine capacity of 350,000, to 750,000 engines annually.
China is now by far the world’s largest auto market, and Chinese industrial policy in effect requires that all profits earned there are reinvested in the country and its local partners. The U.S. remains alone among industrialized nations – with elected or totalitarian governments – without any such job and investment protecting policy. Continue reading
Posted in auto news, economy, manufacturing, milestones, news analysis
Tagged auto informed, auto news, autoinformed.com, automotive news, changan ford mazda automobile, chinese auto market, chinese industrial policy, ford job exports, ford job loss, great recession, Ken Zino, us industrial policy, us job loss, zino
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