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Car Trouble: Should We Recall the U.S. Auto Industry?
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******************************** Car Trouble: Should We Recall the U.S. Auto Industry? http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1183 On April 19, General Motors announced a first-quarter loss of $1.1 billion, its worst result since 1992. On April 20, Ford Motor announced $1.1 billion in net income for the first quarter, a 38% decline from a year earlier, and projected that it would either post a loss or just break even in the second quarter. In Germany, shareholders at DaimlerChrysler's recent annual meeting lambasted chief executive Jurgen Schrempp, who has presided over a 50% drop in share price since Daimler and Chrysler merged in 1998. What's going on? Auto industry experts at Wharton and elsewhere say the business has been undergoing wrenching changes for years, but that the changes are accelerating. Competition from Japanese, Korean and now Chinese manufacturers doesn't help. Job number one? Pay more attention to what customers want.
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