Quote:
Originally Posted by Dragoneye
Yeah...but they made money off those SUVs. So what's your point?
I'm not saying they were the perfect model...but they were on the road to profitability in '08....had the proverbial sh!t not hit the fan....so yeah -- I do seriously believe that.
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The economic downturn accelerated an otherwise controllable slide for GM, Ford, and Chrysler. While they may not have ever been the best-run companies in the world, they were extremely successful for their sizes. Recent causes for their downturn, besides the market collapse, include previous administration tendencies to change policy in the automotive industry with almost no input from the automakers. This has led to rising EPA standards, lower investment from US government sources despite overseas investments in imports, and increased support for import companies in Republican states with factories in the Bible Belt that is polarized from Democratic support for domestic factories in northern states.
In other words, all 3 companies had already renegotiated contracts with the UAW that would allow further profitability this year that would have otherwise been available. The US government, despite a history of dependence on the automakers for fleet products and war support, has essentially stabbed its companies in the backs. Call your elected officials and demand their support for their most important infrastructure companies.