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The Car Market And Unemployment

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The Car Market And Unemployment

  1. 1. The Car Market And UnemploymentIt is a well known fact that due to a rise un unemployment, car sales have fallen. The youth areso desperately in need of work, yet are extremely unlucky as quite a large proportion ofemployers want people with some signifcant experience. However on the other hand, some carcompanies have rocketed through the roof with the amount of profits that they have generated.Companies such as:FordGMAnd Volkswagen.This may be due to a rise of people wanting long lasting reliable and safe cars to drive around inso that they will not need to buy a new one every 2-3 years.Having been in the situation of being young and jobless, I, for one, know how it feels for theyouth not being able to gain employment, sometimes this can be on their age, notn having theright skills, not having experience. But I never gave up, I studied hard and was able to gain ajob. Enough of that here is a short and brief story about a young spaniard called ManuelCervantes.Manuel Cervantes used to enjoy taking friends to the beaches of southern Spain in his SeatLeon before the slowing economy cost him his job three years ago.After sending out more than 200 applications without luck, the 27-year-old from Cartagena mayswitch to his bike or the bus to conserve cash. While he longs to replace his nine-year-oldhatchback, the former bank salesman doesn’t have the money with the economy hobbled byEurope’s debt crisis.High unemployment, especially among young people like Cervantes, has pushed manyconsumers out of the car market, making the slowdown stickier than if it were caused by shakyconfidence. Sales in the European Union will probably fall to 12.2 million vehicles this year, thelowest level since 1995 and 21 percent below the 2007 peak, according to European autoindustry group ACEA. A recovery to pre-crisis levels in the region isn’t likely until after the endof the decade, according to consulting company AlixPartners….More at Jobless Youth LeaveEurope Car Sales in Doldrums – BusinessweekMore Reading 1/2
  2. 2. Ford, GM and Volkswagen Top List Of Fortune’s List Of World’s Most Profitable … – Huffington Post John Zumwalt on Google+ learn more... The Car Market And Unemployment 2/2Powered by TCPDF (www.tcpdf.org)

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