Car company faces price pressure

Thu, 17 Jan 2008



According to car finance news reports from America, leading car company General Motors Corp is going to face a testing 2008.

A variety of factors have combined to increase pressure on the company, including the credit crunch caused by the US subprime mortgages catastrophe. Combined with other slumps in the housing market and tighter credit throughout the country, the purchase of new vehicles is likely to slow down.

However, the chief executive of GM, Rick Wagoner, is particularly optimistic and thinks that vehicle sales will improve this year. However, how the main manufacturers achieve this remains to be seen. It is anticipated that car companies will increase incentives and promotion to keep sales high.

Financial experts in the US indicate that the auto industry will decline still further during 2008.
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