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Is the US car manufacturing crisis crossing to the UK?

News that Vauxhall workers have been offered the chance to take a sabbatical of up to 9 months on 30% pay has sounded the alarm bells for many car workers in the UK. The move by owner General Motors is seen as something of a knock-on effect from the US Congress vote which rejected a $14 billion bailout package for the US automotive industry at a time when the largest players are under serious pressure.

A quick glimpse at today's popular press in the UK shows the lines and lines of unsold cars in various car manufacturing plants across the UK with the likelihood that sales are set to fall even further as the recession grips the UK. This is a serious situation for the car manufacturing industry and despite repeated pleas to the UK government there has been no help as yet. We could literally see many of the best-known car manufacturers around the world collapse over the next few months as the fallout from the original credit crunch continues.

Those who expected a short-term drop in economic activity due to the credit crunch are having to redo their figures as the situation gets even worse.

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