Word: chryslers
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...tell us a little about Nissan's relationship with Chrysler? They needed a small car. We developed a small car for them on the existing platform of a Nissan. Same thing for our large pickup truck. Instead of renewing our own large pickup truck, we can use a derivative of their platform. We cut our investment by 75%. These are not small savings. These are massive savings...
...alone among the Detroit Three has enough dry powder to get through what will be a very difficult 2009, when car sales aren't expected to top the 11.8 million units sold this year. (In 2007, 16 million cars and light trucks were sold.) General Motor's Wagoner and Chrysler's Nardelli made it pretty clear that without a government bridge loan - $12 billion in GM's case, $7 or $8 billion for Chrysler - there isn't going to be a 2010 for these companies, at least not without a pit stop in bankruptcy. Chrysler ended its third quarter with...
...billion in bridge loans wasn't simply a down payment. But several noted that Ford is at the head of the class. "My sense is that Ford has done a better job," said Senator Bob Corker, who added that "GM is spiraling downward and in serious trouble" and that Chrysler "barely has a heartbeat." He then called on Ron Gettelfinger, president of the United Auto Workers, to rate the companies. "I'd rank 'em Ford, Chrysler and General Motors," the union man responded. That won't get Mulally any more money, but at least he knows where he stands...
...apparently reached its line in the sand when it comes to economic bailouts. Senate majority leader Harry Reid introduced legislation on Monday that asked for $25 billion of the $700 billion bailout fund Congress approved in September to be redirected for use by General Motors, Ford and Chrysler in the hopes of helping the faltering industry avoid going under. Republicans immediately balked at the idea...
...grounds exports, since a strong Loonie deprives Canada of a cost advantage it has enjoyed for years. The Canadian dollar has weakened recently, but now the financial problems threatening to push Detroit's auto industry over the brink have also gripped the Canadian subsidiaries of GM, Ford and Chrysler. See the 50 Worst Cars of All Time