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Ford throws support behind aid for GM Europe
19 March 2009, 6:03 pm
Filed under: Euro, Government/Legal, Ford, GM, Earnings/Financials, Opel, Vauxhall
Despite the fact that Ford has yet to request any special funding from either the federal governments in the United States or abroad, the automaker has repeatedly said that it supports its competitors as they seek financial aid. According to Ford of Europe CEO John Fleming, "We have no objections to competitors asking governments for support in these very difficult times."
While some might think that Ford would stand to benefit if its largest competitor went the way of the Dodo, in reality, it's much more complicated than that. Says Fleming, "I would rather take sales from competitors by having better products rather than them going out of business." Plus, there's the sticky supplier situation - the loss of an automaker or two could have a drastic impact on the already weak auto supplier industry.
In lieu of propping up individual automakers on a country-by-country basis, Fleming suggests that the European Union as a whole should introduce its own aid package that would affect all automakers equally.
[Source: Automotive News - Sub. Req.]Ford throws support behind aid for GM Europe originally appeared on Autoblog on Thu, 19 Mar 2009 18:03:00 EST. Please see our terms for use of feeds.
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Source: Autoblog
19 March 2009, 6:03 pm
Filed under: Euro, Government/Legal, Ford, GM, Earnings/Financials, Opel, Vauxhall
While some might think that Ford would stand to benefit if its largest competitor went the way of the Dodo, in reality, it's much more complicated than that. Says Fleming, "I would rather take sales from competitors by having better products rather than them going out of business." Plus, there's the sticky supplier situation - the loss of an automaker or two could have a drastic impact on the already weak auto supplier industry.
In lieu of propping up individual automakers on a country-by-country basis, Fleming suggests that the European Union as a whole should introduce its own aid package that would affect all automakers equally.
[Source: Automotive News - Sub. Req.]Ford throws support behind aid for GM Europe originally appeared on Autoblog on Thu, 19 Mar 2009 18:03:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | Comments
Source: Autoblog