Chrysler has announced temporary closures on 3 of their manufacturing plants and Ford has announced a slowdown on one of its as slow sales are making an impact in production. Well now one of the Asian manufacturers is facing its own slowdown in both sales and production. Hyundai has announced that they will be putting a halt to production at their Montgomery, Alabama plant where the slow moving Sonata is assembled.
Compared to last years sales the Sonata is a good 2,000 cars behindÂ the priorÂ years numbers. The unfortunate fact is that all of the plants that are facing these slow-downs in production are in the US. On the other hand there are other cars that are making up for the dips being experienced in the sales of certain other models. While the Hyundai Sonata is experiencing a downturn in sales, the Sante FeÂ is having a better year this year than last.
It seems that many of the prognostocators for the auto industry have missed the mark this year and with the value of the US dollar dropping, the housing market in a slump, banking futures with all those Interest Only Loans hurting the industry there is plenty of reason to worry in the auto industry. Oh, and add to those worries the negotiations that are looming between the UAW and Chrysler and Ford.
On the bright side… well… you tell us. What can the auto industry do to turn things around? Is it a bad sign that the elite auto makers (example: Porsche) are making record profits and the makers of the average persons transportation are suffering? What can the they learn from Porsche?