The meltdown in the world’s car industry could have far-reaching effects for New Zealanders, says a car industry expert.
Clive Matthew-Wilson, editor of the car buyers’ Dog & Lemon Guide says the global car industry crisis is far more serious than problems faced by the world’s banks.
“Unlike the financial sector, which essentially produces numbers, the motor industry makes real products and employs real people. Virtually all our major trading partners have motor industries that are in decline or collapse. There’s no way this won’t drag our economy down, too.”