Thu 1 Jun 2006
Big Three Getting What They Deserve
Posted by Jose L. Velez under Business, Daily News
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I have to take a few minutes from my studying to comment on the recent news about the big three automakers’ sales numbers.
GM, Ford, and Chrysler have all posted significant declines in last month’s sales compared to last year because of higher fuel prices AND higher interest rates. For those of you who do not understand what this means, higher fuel prices mean that consumers want MORE EFFICIENT cars and higher interest rates means that consumers want CHEAPER cars because the more you borrow at higher interest rates, the more is costs you. (more…)
