A significant factor was the general recession in the years following the 2007 housing bubble popping. People lost jobs, were struggling to pay bills, and naturally it was not an ideal time to purchase a vehicle.
Another significant factor was the surge in oil prices that came with the economic crisis, and the increased costs that automobile manufacturers faced due to the credit crunch that also came with the crisis. Since a lot of US manufacturers at the time were selling big SUV's, such as Hummers, as their most profitable products, the steep fall in demand hurt the industry immensely. At the time, US auto manufactures didn't offer many fuel-efficient, inexpensive alternatives to choose from.
The government chose to bail out major US automotive companies, providing large loans in order to help them stay solvent and keep their stock price from tanking. The results were generally positive. Big auto-manufacturers, apart from a couple mergers, survived and were given time to adapt the new market for fuel-efficient, less expensive vehicles.
I would tell the Michigan Economic Council to adapt ahead and to urge companies to diversify their product line. A major factor that automotive manufacturers can definitely take the blame for is their over-reliance on the sales of expensive SUV's, when oil prices and general market trends suggested that the future was not with these vehicles.
The constitution is an example of primary source hope this helps!!!!!!
Jesus was born in Bethlehem and he died in Jerusalem.
Central America is the region of America that is bordered by Mexico in the North and Colombia in the South. This region was greatly impacted by the processes of Spanish colonization and the slave trade, particularly when it comes to diversity.
Prior to the arrival of the Spanish, the population of the region was composed exclusively of indigenous people. These people were not homogeneous, but they shared several common cultural traits. With the arrival of the Spanish, and the subsequent offspring of mixed couples (most often Spanish men and indigenous women), the region became more diverse. This diversity was increased when the slave trade brought African slaves to the Americas. These various groups established relationships with one another, leading to great genetic variety over time. It also led to the development of various racial terms such as "mestizo," "criollo" and "mulato," as well as a strict racial hierarchy that governed relationships between the various groups.
