View Full Version : Ford pulling ahead of GM and Chrysler
Chuck 06-02-2009, 10:25 AM http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg “We’ve had so many people come in who have never come into a Ford dealership before, who have told us they were so happy Ford wasn’t having to borrow money from the government,” - Ford dealership (http://www.msnbc.msn.com/id/31048538/)
http://www.cleanmpg.com/photos/data/501/2010_Ford_Fusion_Hybrid_Ad.jpgDan Carney - MSNBC (http://www.msnbc.msn.com) - June 2, 2009
This is Ford's reward for acknowledging they had a problem - you can't resolve what you deny. --Ed.
With GM and Chrysler both now in bankruptcy, a relatively healthy Ford stands to benefit, even as its two struggling Detroit rivals gain the advantages of powerful government backing.
Unlike GM and Chrysler, Ford hasn’t taken any money from the government. Two years ago, Ford’s Chief Executive Alan Mulally mortgaged every conceivable asset owned by the automaker to the tune of $23 billion to finance its turnaround plan.
While industry observers enthuse about the salutary effects of “quick rinse” bankruptcy plans for General Motors and Chrysler, as if these companies are simply changing hair color, Ford seems to hold onto the quaint notion that insolvency is better avoided.... http://www.msnbc.msn.com/id/31048538/
Chuck 06-02-2009, 10:29 AM There are lots of implications of the GM bankruptcy.
One of them is the loss of market share after shedding Pontiac, Saab, Hummer, Saturn.
GM had 21% of the US market at the start of 2009 - may be 15% at the end of the year.
We are looking at the possibility Ford could outsell GM for the first time since The Great Depression.
southerncannuck 06-02-2009, 10:33 AM Let's hope that Ford put product in the showroom that appeals to the folks.
Indigo 06-02-2009, 12:03 PM Of course, it helps Ford's cause in that the company actually is more interested in building automobiles than it is in fleecing the taxpayers.
Chumby 06-02-2009, 12:07 PM I find it disappointing that BO is taking money from Ford employees and using it to subsidize GM and Chrysler.
I had the opportunity to buy shares in both of these lemons and chose not to. I'm glad I didn't have a say this time around...
Chuck 06-02-2009, 12:22 PM I find it disappointing that BO is taking money from Ford employees and using it to subsidize GM and Chrysler.Are you talking about Big Oil?
Where can I read about this?
Chumby 06-02-2009, 12:25 PM Sorry. BO = Barack Obama.
Chuck 06-02-2009, 12:29 PM Sorry. BO = Barack Obama.Thank you for the clarification, but still fail to see how Ford as a corporation is funding GM and Chrysler.
As far as I know, Ford avoided taxpayer assistance while GM and Chrysler received tens of billions of it.
Trick 06-02-2009, 12:32 PM I've been noticing quite a few of the new Ford Focus around, and quite a few of the Fusions as well (non-hybrid). Toured the plant in Dearborn--they say their doing pretty good with their truck sales; their VERY large, luxury truck sales. I'm not sure how I feel about that, especially since they've got a new "extreme" truck coming out that apparently gets atrocious gas mileage and is chock full of dubious bells and whistles (to each their own I suppose). Some of their new models, however, do get better mileage then previously.
We'll see. I hope they keep going strong--I'd love to be able to buy domestic with confidence and without feeling guilty about my MPG. Maybe if they bring that diesel Fiesta here...
Great article.
Trick 06-02-2009, 12:37 PM Also, drove a new Focus as a rental the other day. It's not bad. I do like my Fit a good deal better, and I get better HWY mileage with it, but still. I guess they are bringing the Euro Focus next year? Could be good for them (especially their image).
Chumby 06-02-2009, 05:14 PM Ford employees are required to pay taxes to the federal government. If they don't they go to jail. The federal government is using that tax money to subsidize GM and Chrysler.
Chuck 06-02-2009, 06:03 PM Ford employees are required to pay taxes to the federal government. If they don't they go to jail. The federal government is using that tax money to subsidize GM and Chrysler.I'm cool with you statement if you had said "all taxpayers" in lieu of Ford on your original statement so there's no misunderstanding.
Just asking for accuracy - just like when another point of view says the AIG exec are billionaires.
Nevyn 06-03-2009, 08:36 AM Also, drove a new Focus as a rental the other day. It's not bad. I do like my Fit a good deal better, and I get better HWY mileage with it, but still. I guess they are bringing the Euro Focus next year? Could be good for them (especially their image).
Ford is bringing the Euro-spec Fiesta over, and making a Focus Bev with a 100 mile range.
Chumby 06-03-2009, 12:19 PM While all taxpayers are all screwed in this deal (as well as the banking deals and the other pork to come), it makes completely no sense to use the taxes from the one major US auto company with any hope of surviving (without overt and covert subsidy) and give to their competition. Unfortunately, this wealth redistribution is not only occurring at the corporate level. Rewarding failure enforces this behavior. *sigh*
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