he economy under President Barack Obama is in shambles, and try as he might to claim otherwise, the evidence continually proves him wrong and GOP presidential front-runner Donald Trump right.
The latest evidence came out of the Sterling Heights neighborhood in Detroit, where Fiat Chrysler planned to lay off approximately 1,300 factory workers due to a drop in sales of midsize cars, according to WDIV.
“In order to better align production with demand at its Sterling Heights Assembly Plant, (Fiat Chrysler Automobiles) U.S. … intends to return the plant to a one-shift operation, beginning July 5,” the automaker announced on Wednesday.
In defending its decision, the company pointed to a sales drop of 61 percent during the first quarter, with Fiat Chrysler having sold in March less than half of what it had during that month a year ago.
Automakers post disappointing US sales on weak sedan demand: DETROIT: General Motors Co , Fiat Chrysler Automo… https://t.co/KwUHrIBl6j
— Car Links (@dluscar) April 1, 2016
A vehicle happens to be one of the most expensive purchases most people make in their lifetime, which is why economists often look to car sales to gauge the state of an economy.
That said, this troubling decline in Fiat Chrysler’s sales suggests that Americans feel more hesitant about loosening their purses and making large purchases, despite Obama’s rhetoric about a booming economy. READ MORE