Monday, June 23, 2008

Update on my automobile credit crisis blog

Hey guys, Last week I wrote about the signs for automobile credit crisis. Today, I saw the updates from Reuters about the writedowns from GM and Ford. These updates are clear signs of the credit crisis, I mentioned before. These writedowns are becuase of slowing down in Used car market because of rising fuel prices. This will probably be followed by slowing down of overall gasoline based car market.

News 1

News 2

Will keep you all updated if anything new comes up ....

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