Monday, November 3, 2008

Auto Sales Crash, Lowest in 25 Years



Having moved to the Detroit area, and having bought real estate here, I can't help feeling awful about the auto industry.

This town would be so much nicer and more prosperous if the US Auto Industry would hit better times.

I know that automobiles are not going away, so that even though cars may be downsized, somebody will have to make and buy them. I was hoping that the weak dollar was going to help them. With the dollar back up to $0.79/Euro, that is less and less likely.

Some say that the US does not have any distinctive, competitive advantage over other countries. I am not sure that's true because the US competes in airplanes and other mechanical equipment. In addition, these companies are not really national companies because they are so global.

I hope our new President takes on US competitiveness issues.