Automakers

Auto industry uses lessons from 2008 recession to survive corona chaos

New Nissan vehicles sit parked at the company’s factory in Sunderland, England, as car manufacturing across Europe stalled because of the coronavirus outbreak.   (Bloomberg)
April 05, 2020 08:59 AM

In the spring of 2008, Renault executives in France started receiving alerts from colleagues at Nissan North America about the health of the U.S. auto market. Auction prices for used cars were falling significantly. Orders were slowing, too. At the same time, cracks were starting to show in the U.S. subprime mortgage market, as securities lost value and adjustable-rate loans began to reset at higher interest.

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