Auto gaints cutting down production

Auto industry is suffring very badly by decreasing market demand for automobiles. Almost all the leading car manufacturers suffring from credit crunch. Major car manufacturers from US are opting for government bail out and position of other automobile manufacturers is also not different. Almost All the main Auto gaints cutting down production and cutting jobs.

BMW has suspended its production in Leipzig and Detroit gaint GM(General Motors) has cut down its production by more then 53% compare to the same period in 2008. JAGUAR LAND ROVER Owned by Tata cut down production at its Solihull, Halewood and Castle Bromwich plants in UK.

With the production cuts the leading auto players also cutting jobs. Due to the shut down of many production units many workers become unemployed and these job cuts played a major roll in increasing unemployment.