By: Val Palac
Ford is going to use the CARS-Act to get people to turn in their old cars and buy more fuel-efficient cars. Ford is enthusiastic about the idea. However, it’s reminiscent of the promotional gimmicks used by Henry Ford during the Great Depression when it introduced annual model changes to stimulate consumer spending and production. Today, Ford is similarly advertising different models that appeal to buyers.
Rather than advantages of competition, if Chrysler and GM were to go under, it would be messy and complicated. Yet, Ford guarantees the new UAW will help restructure the company’s debt.
At this point, Ford doesn’t see any need for bailout; however, there doesn’t seem to be any way to predict the future until auto sales globally pick up among all automakers. Ford hopes to remain a key player within the year and by the time the recession passes.
http://www.npr.org/templates/story/story.php?storyId=102665356
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