This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7788954.stm
The article has changed 10 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Chrysler plants close for a month | Chrysler plants close for a month |
| (10 minutes later) | |
| The struggling US carmaker Chrysler is to halt production at all 30 of its plants for one month. | The struggling US carmaker Chrysler is to halt production at all 30 of its plants for one month. |
| Chrysler needs to save money as it waits for the US government to find a way to help the car industry. | Chrysler needs to save money as it waits for the US government to find a way to help the car industry. |
| A $14bn (£9.4bn) bail-out deal for the industry failed in the Senate last week, raising fears of job cuts and a possible industry collapse. | A $14bn (£9.4bn) bail-out deal for the industry failed in the Senate last week, raising fears of job cuts and a possible industry collapse. |
| Chrysler also needs to reduce production to reflect falling demand as the economy stumbles. | Chrysler also needs to reduce production to reflect falling demand as the economy stumbles. |
| Dealers have been unable to sell cars even to people with the confidence to buy them, because they have been unable to take out car-loans. | |
| "As a result of the financial crisis, the automotive market remains depressed due to the continued lack of consumer credit for potential buyers," Chrysler said in a statement. | |
| Job losses | |
| It also left open the possibility that the plants would be closed for more than a month. | |
| "Impacted employees will not return to work any sooner than Monday 19 January," it said. | |
| Last week, General Motors announced it was shutting down 30% of its North American production. | |
| Chrysler, Ford and General Motors have warned that millions of jobs could be lost if the government does not agree to a package of loans to support the industry. | |
| On Tuesday, the White House warned that carmakers would have to make "concessions" to get a bail-out. |