摘要: |
The big story of 2008 was the continued economic struggle of an automotive industry hit hard by deepening economic recession, like so many industries. Automotive parts suppliers continued to experience heavy debt and overcapacity caused by production cuts by automakers, especially the Detroit 3 (Ford Motor Company, General Motors, and Chrysler). Suppliers have also been pressed by higher energy and input materials costs. Industry analysts reported automotive companies that collectively accounted for more than $72 billion in sales have filed for Chapter 11 protection between 2001- early 2008. Over 40 suppliers filed for Chapter 11 protection in 2008. The number of bankruptcies in the automotive parts industry will continue to grow in 2009. Dana Corporation managed to exit bankruptcy in 2008, but Delphi, although it had hoped to exit Chapter 11 in 2008, continues to work on restructuring. Since it would have serious negative impacts on the financial viability of GM, GM raised the prospects that Delphi may be unable to procure adequate exit funding in GMs restructuring submission to Treasury. The Detroit 3 lost U.S. market share to U.S.-affiliates of foreign-based manufacturers and imports in 2008 and dropped below 50 percent market share. Most U.S. parts suppliers are dependent on the Detroit 3 whose purchases traditionally account for nearly 3 of every 4 of U.S. original equipment sales. U.S. suppliers also find difficult to enter transplant automakers supply chains, in part because transplants have long-established relationships with home-market (foreign) suppliers and have had foreign suppliers colocate nearby their U.S. operations, or have already established long-term relationships with other U.S. suppliers. |