PARIS (Reuters) - Top automakers including General Motors Corp (GM) and Ford warned of tough times as the Paris Auto Show opened on Thursday amid concerns that slowing demand could force production cuts and job losses.
"2009 is not going to be better than 2008," Mulally told reporters at the show. "We won't see a recovery until 2010," he added, noting markets were down around the globe.
Renault outlined a job cuts plan last month.
Fiat boss Sergio Marchionne this week warned of the knock-on effect which the financial crisis threatened to have on manufacturing.
Emmanuel Bulle, a credit analyst at Fitch, told the Reuters Auto Summit on Tuesday that the European market decline was far from over and could go to minus 20 percent.
clipped from biz.yahoo.com
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