that s only the beginning ford has announced that it s going to close even more locations in europe. now in contrast to ford s layoffs around the world chrysler has announced six and a half thousand new jobs. the carmaker has presented a four and a half billion dollar investment plan for the detroit area the company plans to reopen an engine facility in the city and convert another factory into a future assembly plant for the grand cherokee it will also build a new full sized cheap s.u.v. and plug in hybrid models chrysler said it s negotiate negotiating tax in front of packages for detroit and the state of michigan construction is expected to start later this year the first new vehicles are to roll off the assembly line in twenty twenty. joins us now from new york for more on this
and therefore the stock of chrysler dropped by a good one and a half percent here on tuesday now there is also a raft of economic data out today on your side of the world fresh figures showing weekend house building among along them now is that a sign of slowing momentum in the u.s. well at least it seems to be the case for the u.s. housing market in the past couple of years we see in prices rising and at the same time also mortgage rates are on their way up at least they have been in the past year and that is a tough combination for the u.s. housing industry for homebuilders so we got the new figures for housing starts they dropped by eleven percent to the lowest level in a good two years and we specially saw stocks in the housing sector trading to the downside here on tuesday and start to there on wall street for us thank you very
outfield chrysler is announcing big production plans and adding thousands of jobs at a time where it s fares by ford added g.m. are scaling back both those things so what do you think it s doing right. well we are talking mostly s.u.v.s no cero keys and those big cars are more profitable than small of the cold send to those so vehicles that chrysler is planning to produce in detroit will be mostly for the u.s. market so therefore it might make sense to produce those cars so within the united states we do not have details yet on incentives that the state of michigan and the city of detroit will probably offer for chrysler but in general it s good news for the region actually it will be the first big new assembly plant in detroit just since nineteen ninety one we also got some pretty upbeat comments from the unions who over there and if we look at wall street well investing more means higher costs