Economic recession heats up U.S auto majors
Effect of global economic recession is now heating up automobile industries.All three auto majors be it GM,ford or chryslers stocks are performing 15 years low.there are rumours about ford and GM have filed for bankruptcy protection.but both have denied this report.
U.S No.1 automakers GM and chryslers are in talks to merge . GM and Cerberus Capital Management, the private equity arm that owns Chrysler, began over a month ago,but still theres's no solution.earlier there was report India's Tata were in talks with chryslers,also fiat reported to be in exploratory talks.but none have result till now.japanese local broadcasters reported ford is to sell its controlling stake . they have approached many japanese companies for sale.
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