After Years of Growth, Automakers Are Cutting U.S. Jobs

[TomCADem]

Source: MSN/NY Times

DETROIT — After a prolonged recovery that culminated in two years of record sales, the American auto industry is slowing down, with fewer buyers in dealer showrooms and fewer workers on the factory floor.

Automakers said this week that sales dropped in June for a sixth consecutive month, falling by 3 percent from a year ago, a trend that analysts do not see letting up anytime soon. And as demand falls, there is less work in the nation’s auto-assembly plants — primarily those that build traditional passenger cars. Last year, those plants hit a peak of 211,000 workers, a 55 percent increase since the depths of the recession in 2009. That figure has dropped by more than 2 percent so far this year, to 206,000 workers in April, according to the Bureau of Labor Statistics, and could shrink further as sales continue to fall.

“There’s been a consistent reduction in plant output in the last six months, and what is ahead in the next six months could be pretty startling,” said Ron Harbour, an auto manufacturing expert at the consulting firm Oliver Wyman.

The decline signals at least a pause in Detroit’s resurgence from the dark days of the financial crisis, which General Motors and Chrysler survived only through bankruptcy and bailouts. It’s happening despite President Trump’s promises to pressure automakers to save and create good-paying American factory jobs.

Read more: http://www.msn.com/en-us/news/other/after-years-of-growth-automakers-are-cutting-us-jobs/ar-BBDLNXV

[Achilleaze]

1. Trump slump

Republicans totally own this mess

[cstanleytech]

10. That they do and I firmly believe that had they shown even a little willingness to work with

Obama rather than working against him that things would have been far better now than they are so imo they own the entire disaster we are facing as well as the lackluster recovery.

[Javaman]

12. Donald Slump. nt

[kimbutgar]

2. In this environment and uncertainty under chump I would not buy a car or take out a loan

I inherited a house and it needs a lot of work. I thought I'd take out a loan to make it into a duplex but with the crazy man in the White House and the rethugs changing laws to benefit banks over people I might just clean it out and sell it. The climate in this country Is scary and I don't know if the madman will provoke a war or become like Hitler and confiscate property of politicial dissenters if they completely cement their power. I have never felt incertain and scared for my country as I am now..

[Wellstone ruled]

3. Think most have figured this out.

Forecast's for most of the Auto Industry is this,first there will be a lose of Employees who are replaced with Robotics. And the Auto built today has a longer life span than 10-15 years even five years ago. Couple of Asian Manufacturers are flooding the market with low priced short lived product at this point. And that will change in the near future.

Tesla proved to the naysayers that their product is changing the nature of the Auto Industry. And the real market for Auto's is China,and if you are not there,for get about it. And their new trend is Electric Vehicles.

[MichMan]

4. Not unexpected

Sales have been strong for several years. It wasn't realistic to think that this trend would continue forever, so this dip was expected by industry experts

[IronLionZion]

5. Smart people know the Trump recession is coming

and are saving our money. I am holding of on buying a new car if I don't have to.

[GatorDem82]

6. My dumbass momentarily forgot who was elected

and bought a new Tundra in January. At first I thought, well things won't be too bad anytime soon, I can sock away money for a rainy day. Oh how I was wrong. On a weekly basis as we say "this is the worst I've ever seen", the orange asshat says "hold my beer". Thank goodness I make what I do and the Tundra holds its value extremely well, and we are putting barely 500 miles a month on it. I'm looking at getting rid of it next January.

[MichMan]

9. Why would you get rid of it if you like it? nm

[GatorDem82]

15. I like it but want to get rid of it because

It's a massive money sink. Between half the MPG our Odyssey was getting us and the payment being like $400 more per month, I just dislike spending that much money. Truth be told I can just get a hitch and small utility trailer and do 95% of what I need the truck for.

[NCjack]

7. The GOP is trying to get the Trump-Pump approved to

suck trillions out of the bottom 47% and blow it onto the upper 1%. That action will remove all of the cash in the hands of us in the bottom 47%. We will not be buying any large consumer items. And, that should crash the economy. But, there will be opportunities for the rich in buying our repo'ed homes.

[More_Cowbell]

8. So Trump's unfounded promise didn't come through?

Who could have predicted that?

[SergeStorms]

11. FAKE NEWS!

Fake news by the failing New York Times. So sad. I've added more jobs than all other Presidents combined. The fraudulent media continues to spread lies about me. Now I know how jesus felt. @therealDonaldTrump

[apnu]

13. So much winning. I can't take it all!

Its too much! Make it stop!

[Bayard]

14. This will get blamed on Obama

Rump has been using the, "I inherited a mess", line for quite awhile.

[Fozzledick]

16. This is a significant leading indicator of the start of an economic slowdown.

The Trump depression is just beginning.