Ford, Chrysler and General Motors are all on the verge of collapse. The global slow down is still taking a toll of these auto majors in the US. The Bush Government has assured that it will not allow the “disorderly collapse” of these car maker giants.

With the slash in the car sales with the economic storm, all the car makers have announced the halt in the production. Chrysler has already already announced the closure of 30 factories which may last for more than a month. General Motors too has followed the league. It has suspended the production of its much awaited fuel efficient electric cars. Ford too has announced its plans to extent the two week shut down for Christmas by an extra week. The alliance through mergers as in the case of General Motors and Chrysler has suffered too.

The Big Three of the auto industry has repeatedly warned the government of the loss of millions of jobs if immediate aid is not given. Loans must be granted by the US government to help the auto sector, as the collapse would affect not only the factory workers but also the industries associated with the auto sector.

Although the Bush administration assures that the loan will be arranged soon, it has warned the Big Three to be ready to make some major “concessions” if it has to stay in business.

Via: BBC

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