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With the market for new cars and trucks going from over 16 million units per in 2007 to probably less than 10 million units this year there is now a lot of excess capacity in the auto parts industry.
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Why do dealers have to wait days or weeks on parts that used to come overnight if there is "excess capacity"?
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To bring supply back into line with demand it is unfortunately inevitable that a lot of parts suppliers will have to close their doors.
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A lot of manufacturers have already closed the doors, because GM defaulted on payment and bho didn't bail them out.
My bet is, unless bho and the gov't in general gets their nose out from where it doesn't belong, GM will ultimately fail anyway, regardless of how many of our tax dollars are wasted on it. This is a group that couldn't even run their own cafeteria--how do they expect to run an automobile company?
Chad