Just days after Toyota said their U.S. sales dropped 18.7 percent, Toyota is cutting 800 jobs at a unit making Lexus vehicles. It’s the first time Toyota has let go of contract workers before their contracts are up. This is yet another indicator of a sliding U.S. auto market, as Toyota has historically grown during previous recessions.
In the following video John Casesa, Managing Partner of Casesa Shapiro Group, elaborates more on the future of the U.S. auto industry. He discusses automakers shifting production from SUVs and trucks to that of smaller fuel efficient cars, the changes in American car buying behavior, the importance of international emerging markets, and the prospect of a GM bankruptcy.
Source: The Wall Street Journal Online