Posts Tagged ‘car shipping’

Auto Transport Industry Downsizes Along with GM

Tuesday, June 9th, 2009

GM announced Tuesday that former Chairman and CEO of AT&T Edward Whitacre will become chairman of the restructured automaker later this summer.

GM plans to undertake a quick sale process that would allow a much smaller company to emerge from court protection in as little as 2-3 months.

The Auto Transport industry seems to be adjusting to widespread fallout from the bankruptcy of General Motors Corp., whose vision of a scaled-down company could further weaken car shipping markets.

“The GM and Chrysler bankruptcies, the proposed closures of up to 2,400 Auto Dealerships, and the summer shutdown of Auto Manufacturing Plants have affected the Car Shipping process as many companies have gone out of business or have significantly downsized their fleet.

Some manufacturers are interviewing Vehicle Transport and Logistics Companies to ensure that their cars will not be interrupted over the next couple of months.

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