Question

Automobile slowdown 2008 and how government dealt with it

Answer 1

Answer:

• The automotive industry crisis of 2008–2010 was a part of the financial crisis of 2007–2008
• In 2008, the Chinese government reduced automotive taxes in order to spur flagging sales.
• Despite a global economic slowdown, Hyundai-Kia successfully managed to overtake Honda Motor in 2008 .

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Answer 2

Answer -

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• The slump in the automobile sector has hit thousands of component manufacturers. We survived the 2008 global meltdown, but this is starting to cripple.

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