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(单词翻译:双击或拖选)
Car biz in crisis
Caught between high gas prices and the growing credit crunch1, the already struggling auto2 industry is being squeezed.
Robert Crisafi didn't need to see the latest startled sales numbers to know the picture's grip. A dramatic drop in used cars sales has put his 25-year-old business in jeopardy3.
Nobody is buying cars. Finance companies aren't financing. And people can't get loans. From car dealers4 to car makers5, the credit crunch is dealing6 a devastating7 blow, siding very tight credit conditions. Ford8 says its sales plunged9 35% in September. Chrysler dropped 31%. And GM 16%. Japaness auto-maker Toyoto had its worst monthly drop in 21 years.
Telling credits anaylists,they are bigger told than expected.
Six out of ten new vehicles are purchased with their loan. And that portion of market is now being pulled back. You are seeing major declines and frankly10 ,credit has to be loosened for the industry to come back.
And to industry that was already struggling, high gas prices caused consumers to pull back early this year and that digged the sales. On Tuesday, the president signed out a 25-billion-dollar loan package for troubled auto-makers. But the worst may not be over.
The traffic hit the last ten days of Semptember was far worst than first ten days of Sempemter. So it's seem to be an exhilarating problem for that.
While the industry faces potential plant closing and job cuts, car dealers are being squeezed. CarMax, the nation's largest used car retailer11, announced 600 lay-offs.
The National Auto Mobile Sale Association says so far this years, 600 auto dealerships have closed down, and more are expected. For CNN Money. com , I am Mary Snow.
1 crunch | |
n.关键时刻;艰难局面;v.发出碎裂声 | |
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2 auto | |
n.(=automobile)(口语)汽车 | |
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3 jeopardy | |
n.危险;危难 | |
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4 dealers | |
n.商人( dealer的名词复数 );贩毒者;毒品贩子;发牌者 | |
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5 makers | |
n.制造者,制造商(maker的复数形式) | |
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6 dealing | |
n.经商方法,待人态度 | |
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7 devastating | |
adj.毁灭性的,令人震惊的,强有力的 | |
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8 Ford | |
n.浅滩,水浅可涉处;v.涉水,涉过 | |
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9 plunged | |
v.颠簸( plunge的过去式和过去分词 );暴跌;骤降;突降 | |
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10 frankly | |
adv.坦白地,直率地;坦率地说 | |
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11 retailer | |
n.零售商(人) | |
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