Word: chryslers
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Dates: during 2000-2009
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...more than three decades Detroit's Big Three and their allies have successfully blocked or limited changes to the nation's fuel-economy rules. However, with General Motors and Chrysler LLC facing bankruptcy, the carmakers are making what could be one last stand, and this one they may well lose...
...representing both foreign and domestic nameplates. Adds Eric Fedewa, vice president at CSM Worldwide, a forecasting firm based in Northville, Mi.: "Our analysis suggests that allowing California and other states to regulate CO2 emissions, and thus fuel economy, will further damage companies that are struggling, like GM, Ford and Chrysler, and much of their supply base, and potentially destabilize relatively healthy companies like Toyota and Nissan." Asian and European carmakers typically enjoy better fuel economy than the Big Three, but they fear the California rules will impede sales of luxury sedans, trucks and SUVs, which are much more profitable than...
...Chrysler, given the need for federal assistance, have kept a low profile in the fight over the California rules, and are still hoping that the Obama Administration won't grant California the waiver. In a show of Detroit's political savvy, the Big Three have also outsourced much of the current fight over the California rules to the National Automobile Dealers Association, long-time critics of legislation. Dealers say they would wind up enforcing a "patchwork quilt" of state regulations, and that the California approach would force automakers to ration certain popular large models. Dolinger says the patchwork argument...
There was always a sweet bit of fiction in the notion that Ford (F) was so much better financially than GM (GM) or Chrysler that it could weather the global economic downturn no matter how brutal it turned. All of that magical thinking came to an end as the No.2 American car company said it would have to "restructure" its balance sheet, which has always been short-hand for finding a way to remain in business...
What Ford is trying to do in the private sector and GM and Chrysler are doing with the government may look entirely different today, but the paths will converge as the market for vehicles gets worse. At that point private capital will choose to opt out of the equation entirely. It is not willing to take that kind of risk...