The Global Economic deferral has impacted many another(prenominal) countries, specially United States and Europe. More than 4.4 million jobs have been lost in the United States and close to 300,000 are from the automotive pains (Accenture, 2011). imputable to the current economic situation, the automotive industry faces high costs, express mail access to credit, and significant drop in sales and is in any case pressed to meet environmental needs (Acea, 2011). This condition leads many companies to take measures in order to surpass some of these problems exactly sometimes they do not take into account the environmental issues.
Many organisations are using the lean manufacture philosophical system excessively collectible to which organizations cannot cope with the aftermath of a indwelling disaster. For example, after the earthquake in japan, Ford Motors instructed their dealers to avoid lodge cars in multiple colours because the colour was produced in Japan and the earthquake had destroyed all resources. Many customers were affected by this because they had to wait for almost six months to receive their order due to unavailability of stock.
The production of motor vehicles in 2010 was 14% pull down than that in 2007. The year 2010 also saw the lowest progeny in European rider car production since 1997.
A similar trend was observed in that of new passenger car registration (Acea, 2010). Even companies who were prepared for the economic downturn faced liquidity problems with companies like Toyota who had to resort to a 2 billion dollar loan from the government. (Filger, 2009).
Background
It is widely cognise that in the year 2008 Global Economic Crisis was triggered by the owe business of banks in the United States and reached its peak when Lehman Brothers went bankrupt in September 2008. This was followed a few months later by recession all across United States and Europe (BBC News, 2009).
The automotive industry took a big hit when the crisis first started and everyone from suppliers to the...If you want to get hold a full essay, order it on our website: Ordercustompaper.com
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