1. The Car Market And Unemployment
It is a well known fact that due to a rise un unemployment, car sales have fallen. The youth are
so desperately in need of work, yet are extremely unlucky as quite a large proportion of
employers want people with some signifcant experience. However on the other hand, some car
companies have rocketed through the roof with the amount of profits that they have generated.
Companies such as:
Ford
GM
And Volkswagen.
This may be due to a rise of people wanting long lasting reliable and safe cars to drive around in
so that they will not need to buy a new one every 2-3 years.
Having been in the situation of being young and jobless, I, for one, know how it feels for the
youth not being able to gain employment, sometimes this can be on their age, notn having the
right skills, not having experience. But I never gave up, I studied hard and was able to gain a
job. Enough of that here is a short and brief story about a young spaniard called Manuel
Cervantes.
Manuel Cervantes used to enjoy taking friends to the beaches of southern Spain in his Seat
Leon before the slowing economy cost him his job three years ago.
After sending out more than 200 applications without luck, the 27-year-old from Cartagena may
switch to his bike or the bus to conserve cash. While he longs to replace his nine-year-old
hatchback, the former bank salesman doesn’t have the money with the economy hobbled by
Europe’s debt crisis.
High unemployment, especially among young people like Cervantes, has pushed many
consumers out of the car market, making the slowdown stickier than if it were caused by shaky
confidence. Sales in the European Union will probably fall to 12.2 million vehicles this year, the
lowest level since 1995 and 21 percent below the 2007 peak, according to European auto
industry group ACEA. A recovery to pre-crisis levels in the region isn’t likely until after the end
of the decade, according to consulting company AlixPartners….More at Jobless Youth Leave
Europe Car Sales in Doldrums – Businessweek
More Reading
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2. Ford, GM and Volkswagen Top List Of Fortune’s List Of World’s Most Profitable … –
Huffington Post
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