US carmakers cutting jobs as growth slows
Industry analysts say consumers might be pulling back on spending because of tighter credit conditions and more expensive vehicle loans
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Detroit
AFTER a prolonged recovery that culminated in two years of record sales, the American car industry is slowing down, with fewer buyers in dealer showrooms and fewer workers on the factory floor.
Carmakers said this week that sales dropped in June for a sixth consecutive month, falling by 3 per cent from a year ago, a trend that analysts do not see letting up anytime soon. And as demand falls, there is less work in the nation's car-assembly plants - primarily those that build traditional passenger cars.
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