Carmakers tighten belts in '01.(Brief Article)

Plastics News, January, 2001 by Miel, Rhoda

Detroit's annual lovefest of the automobile is in full swing. Carmakers have buffed the fenders, served up buffets to the media and are rolling out the future models they hope will become the next hot vehicle as part of the North American International Auto Show 2001, which runs through Jan. 21.

But even as designers tout their brands, suppliers and automakers alike are tightening their belts for a slowdown in the industry that is likely to trim more than 1 million vehicles from North American production lines this year. "There is a correction taking place in regards to the inventories," General Motors Corp. President and Chief Executive Officer Rick Wagoner admitted during a December news conference. DaimlerChrysler AG, whose Chrysler unit posted a $4.6...