Luxury Slump
January 30, 2009 by Staff
This poor economy is taking its toll worldwide at alarming rate, not only the U.S needs a stimulus package plan, but it looks like U.K needs to start a package plan as well. Porsche is starting to announce their layoffs and starting to shut down production because of it sales loss in the last 6 months or so.
When is come to luxury, the car makers are pushed to cut production in response to a slump in sales? * Euro zone inflation plunges, while the jobless rate rises * Dexia announces job cuts and a record loss * British mortgage lending picks up from a record low * The UK’s credit card debt drops * The trouble’s decline is testing…
Check out this video story that will cover what we mention above..