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More Than Half of the Automotive Supply Base Could Go Bankrupt in 2009; at Least 1 Million Job Losses Expected, According to A.T. Kearney Study.

Publication: PR Newswire
Publication Date: 20-MAR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Survey also provides insights on how Tier 1 Suppliers can weather the current auto industry storm and avoid liquidation

DETROIT and CHICAGO, March 20 /PRNewswire/ -- Current market conditions could cause more than half of the country's Tier 1 automotive suppliers to file for bankruptcy in 2009, creating 1 million additional job losses and creating an estimated $9 billion income tax revenue shortfall, according to a new study from global management consulting firm A.T. Kearney.

"The dramatic drop-off in sales volumes that is impacting the OEMs is having a ripple effect on the health of their Tier 1 suppliers," said A.T. Kearney Partner and North American Automotive Practice Leader Dan Cheng. "In particular, suppliers with large capital investments stranded in dedicated, underutilized facilities are especially...

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