Go Back   Team-BHP > BHP Worldwide > The International Automotive Scene


Reply
 
Thread Tools Search this Thread
Old 6th December 2008, 13:31   #106
Senior - BHPian
 
Join Date: Feb 2004
Location: Mumbai
Posts: 3,717
Thanked: 425 Times
Default

The Big Three are asking for a $6.4 Billion bail out from Canada as well.

Quote:
The biggest demand is from General Motors Canada, which wants $800 million immediately plus another $2.4 billion in repayable loans.
Quote:
Chrysler is seeking a $1.4-billion,
Quote:
Ford would like access to a $2 billion line of credit, saying that would help it to at least break even by 2011.
Source: CTV, Canada.
amit is offline   Reply With Quote
Old 6th December 2008, 18:23   #107
Senior - BHPian
 
aaggoswami's Avatar
 
Join Date: May 2007
Location: Vadodara
Posts: 4,675
Thanked: 1,427 Times
Default 15 billion dollar bailout agreement reached.

I seriously hope the big three survive.

$15 billion bailout agreement reached.

Source : $15 Billion Dollar Bailout Agreement Reached - worldcarfans

Article :
Quote:
Members of Congress and President Bush have apparently reached an agreement to provide $15 billion dollars worth of government loans to Detroit's big three automakers. This is far less than the $25 billion dollars that was originally requested and much smaller than the $34 billion that the CEO's requested during the past two days of testimony on Capitol Hill.

The breakthrough came when Democratic Speaker of the House, Nancy Pelosi, gave into the President's demand that the funding come from an earlier aid bill that offered the automakers $25 billion dollars for retooling and creating more energy efficient automobiles. Next week both the House and Senate will take up the proposed legislation and according to expectations it should sail through both chambers of Congress and reach the President's desk shortly thereafter. The quick passage of the legislation should help to insure that the big three will have the money within a matter of weeks.

However there are details that still need to be worked out. In a statement released by Pelosi she stated that "Congress will insist that any legislation include rigorous and ongoing oversight to guarantee that taxpayers are protected and that resources are directed to ensure the long-term viability and competitiveness of the American automobile industry." Officials from both political parties have also agreed that the legislation should include the creation of a new bureaucracy to insure the funds are used for their intended purpose.

The $15 billion dollar aid package is expected to allow the big three to last until March of 2009, by which time President-elect Barack Obama and the new Congress will have been sworn in.
aaggoswami is online now   Reply With Quote
Old 7th December 2008, 21:42   #108
BHPian
 
Dippen's Avatar
 
Join Date: Nov 2008
Location: Stockholm
Posts: 44
Thanked: 0 Times
Default

Saab, Volvo not likely to change hands soon

GM, Ford may discover no one can buy brands

No, not Chrysler: This time we're talking about Saab and Volvo. It's possible the register will ring up "no sale" when General Motors Corp. and Ford Motor Co. are done evaluating their Swedish brands, and that might be best for all concerned.

Saab, Volvo not likely to change hands soon | Freep.com | Detroit Free Press
Dippen is offline   Reply With Quote
Old 9th December 2008, 01:25   #109
BHPian
 
Superleggera's Avatar
 
Join Date: Mar 2007
Location: Kannur/Boston
Posts: 294
Thanked: 74 Times
Default American Autos Worth Saving & Writing Off

As per Forbes, here is the list of American Autos that are worth Saving and Writing off. Unfortunately, I my choice of vehicles are in the writing off list. For more details, click here

Worth Saving

GMC Acadia
Pontiac G6
Ford Fusion
Saturn Aura
Cadillac CTS
Ford Focus
Chevrolet Malibu
Jeep Patriot
Buick Enclave

Worth Writing off
Chevrolet Trailblazer
Ford Explorer
Chrysler 300
Chrysler PT Cruiser
Hummer
Dodge Dakota
Lincoln Town Car
Dodge Durango
Jeep Commander
Superleggera is offline   Reply With Quote
Old 9th December 2008, 03:34   #110
BHPian
 
VIPER_SRT's Avatar
 
Join Date: Jul 2005
Location: PA
Posts: 432
Thanked: 171 Times
Default

Quote:
Originally Posted by Superleggera View Post
As per Forbes, here is the list of American Autos that are worth Saving and Writing off. Unfortunately, I my choice of vehicles are in the writing off list. For more details, click here

Worth Saving

GMC Acadia
Pontiac G6
Ford Fusion
Saturn Aura
Cadillac CTS
Ford Focus
Chevrolet Malibu
Jeep Patriot
Buick Enclave

Worth Writing off
Chevrolet Trailblazer
Ford Explorer
Chrysler 300
Chrysler PT Cruiser
Hummer
Dodge Dakota
Lincoln Town Car
Dodge Durango
Jeep Commander

Except Hummer all are junk and are qualified to be dumped and you can add Buick Enclave to the list too. I had a passion for Hummer all along but somehow the interior of Hummer is not competitive enough compared to the europians and performance factor counts only when its off-road.
VIPER_SRT is offline   Reply With Quote
Old 9th December 2008, 03:51   #111
BHPian
 
Superleggera's Avatar
 
Join Date: Mar 2007
Location: Kannur/Boston
Posts: 294
Thanked: 74 Times
Default

Quote:
Originally Posted by VIPER_SRT View Post
Except Hummer all are junk and are qualified to be dumped and you can add Buick Enclave to the list too. I had a passion for Hummer all along but somehow the interior of Hummer is not competitive enough compared to the europians and performance factor counts only when its off-road.

How about Chrylser 300 and Jeep Commander?
Superleggera is offline   Reply With Quote
Old 9th December 2008, 04:40   #112
BHPian
 
VIPER_SRT's Avatar
 
Join Date: Jul 2005
Location: PA
Posts: 432
Thanked: 171 Times
Default

Quote:
Originally Posted by Superleggera View Post
How about Chrylser 300 and Jeep Commander?
Nothing against Chrysler 300 but doesnt have the buyer appeal. People in that cadre prefer upgrading themselves to either Cadillac or then switch to Japanese which have good resale value. Chryslers have too many quality issues for their mechanixal and electrical problems. Few of my friends bought Chryslers 300 when they were students for $9000 and they always had problems now and then AC compressor, Struts, Suspensions, window motors etc. No wondor people who know about detroit automakers say " Detroit makes scrap" and it came on CNN.

Jeep lovers always love those wranglers and smaller jeaps that have off-road capability. Jeep launched commander in order to capture the large SUV (already crowded) market share, forgot that Honda Pilot was a big success apart from Toyota SUV's and also for american makes GMC, Ford have similar SUVS. I rented a Jeep commander on my trip to Florida and the drive wasn't something I'll appreciate.
VIPER_SRT is offline   Reply With Quote
Old 9th December 2008, 10:45   #113
Senior - BHPian
 
Join Date: Feb 2004
Location: Mumbai
Posts: 3,717
Thanked: 425 Times
Default

Quote:
Originally Posted by VIPER_SRT View Post
Except Hummer all are junk and are qualified to be dumped
The Cadillac CTS and Pontiac G6 are good cars too.
amit is offline   Reply With Quote
Old 9th December 2008, 11:40   #114
Senior - BHPian
 
Join Date: Mar 2007
Location: Delhi
Posts: 2,175
Thanked: 128 Times
Default

This list is from a mag that is famous for its lists and also for its editorial stand that global warming is a hoax and BS.
vasudeva is offline   Reply With Quote
Old 9th December 2008, 15:38   #115
BHPian
 
prabhusati's Avatar
 
Join Date: Apr 2008
Location: Bangalore
Posts: 248
Thanked: 12 Times
Default

My personal opinion is that the US Government should not bail out the troubled auto companies without any restructuring / conditions. The situation they are in, is their own making. Multi-million dollar pay package for top executives, no control on their expenditure, spending on advertisements when the company is cash starved, golden parachute etc etc, the list goes on. All these show that they were not prudent on cash / finance management and have landed in this situation of no return. Now they are looking at the goverment to bail them out, for what? Waste the money again?

I heard in a section of the media that there will be tight strings attached to the bail out package (if it comes through). The first and foremost maybe that the CEO has to go. I think this is a step in the right direction by the government planning for a bail out. They should also put a condition that the CEO / top management asked to go gets nothing financially. Just sack them. They bled the company dry when in power and should not expect a single cent as severence package. Only when an example is set, the others will fall in line. Then the bail out package can help the company turn around.
prabhusati is offline   Reply With Quote
Old 9th December 2008, 23:08   #116
BHPian
 
Superleggera's Avatar
 
Join Date: Mar 2007
Location: Kannur/Boston
Posts: 294
Thanked: 74 Times
Default

Quote:
Originally Posted by prabhusati
The first and foremost maybe that the CEO has to go. I think this is a step in the right direction by the government planning for a bail out. They should also put a condition that the CEO / top management asked to go gets nothing financially. Just sack them. They bled the company dry when in power and should not expect a single cent as severence package. Only when an example is set, the others will fall in line. Then the bail out package can help the company turn around.
IMHO, The heads of Market Research ,Quality control should be sacked first. If GM fires the CEO, they have to pay him a hefty amount and need find another guy who might demand more.

Rick Wagner became the CEO in 2000, but I think the reason for GM's bankruptcy is the mistakes that they have done much before 2000.

Last edited by aah78 : 9th December 2008 at 23:52. Reason: Quote fixed.
Superleggera is offline   Reply With Quote
Old 10th December 2008, 00:21   #117
BHPian
 
VIPER_SRT's Avatar
 
Join Date: Jul 2005
Location: PA
Posts: 432
Thanked: 171 Times
Default

I say let them file chapter 11. These auto companies are not going to vanish but will restructure and come back with fewer manufacturing plants and effecient workforce and that will be a learning lession for rest of the industries. Right now they have so much of baggage that it would be difficult for them to survive even if the bailout is passed.

See the following skit of NBC's "Saturday Night Live" of the Congressional hearing of the big 3 on youtube
VIPER_SRT is offline   Reply With Quote
Old 10th December 2008, 01:09   #118
Senior - BHPian
 
amit V8's Avatar
 
Join Date: Dec 2007
Location: kolkata
Posts: 1,066
Thanked: 189 Times
Default

what i think is these department heads are all "UNPAD" & nothing else. thus they are giving us cars like the aveo, the potiac g3/g6, the dodge durango etc. i dont think they have any idea what people want or they still think its not 2008 but the early 50's or 60's.
as far as the list is concerned it will differ from man to man. there are a lot of jap cars which are even worse than the jeep commander/patriot.

the f.e. or reliability is always not an issue, its the character or the feeling that makes a real car. the hummer will always be a hummer & not a porsche cayenne or a vw toureg. its the ruggedness, the huge size, the ugly interiors that makes it a complete hummer. now whether it sells or not is a different issue.

as for the bail-out is concerned, i personally think these companies should not be given a single cent. they had enough time to correct themselves, capture the market & come back to where they belong. but instead what we see is the ceos' travelling through planes, having parties when their companies are almost bankrupt.

Last edited by amit V8 : 10th December 2008 at 01:15.
amit V8 is offline   Reply With Quote
Old 10th December 2008, 10:02   #119
BHPian
 
Join Date: Nov 2008
Location: Hamden
Posts: 120
Thanked: 55 Times
Default

Quote:
Originally Posted by Superleggera View Post
As per Forbes, here is the list of American Autos that are worth Saving and Writing off. Unfortunately, I my choice of vehicles are in the writing off list. For more details, click here

Worth Saving

GMC Acadia
Pontiac G6
Ford Fusion
Saturn Aura
Cadillac CTS
Ford Focus
Chevrolet Malibu
Jeep Patriot
Buick Enclave

Worth Writing off
Chevrolet Trailblazer
Ford Explorer
Chrysler 300
Chrysler PT Cruiser
Hummer
Dodge Dakota
Lincoln Town Car
Dodge Durango
Jeep Commander
You forgot to add Mustang to your WORTH SAVING LIST.
Trail blazer and explorer are still selling in large numbers because there are many Americans who need towing capacity and versatility of body-on-frame SUVs. Not all cross overs are good. I don't see any point in buying a ford edge (unibody crossover) when it is just as heavy as an explorer ( true SUV) and gulps same amount of fuel.
raveen_2023 is offline   Reply With Quote
Old 10th December 2008, 15:03   #120
Senior - BHPian
 
Join Date: Feb 2004
Location: Mumbai
Posts: 3,717
Thanked: 425 Times
Default

Quote:
Originally Posted by Dippen View Post
Saab, Volvo not likely to change hands soon

GM, Ford may discover no one can buy brands
Today's HT reports that M&M is mulling over buying Volvo.
amit is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Nortel files for bankruptcy! Edit: Now Avaya HappyWheels Gadgets, Computers & Software 6 23rd January 2017 09:13
Fisker Auto files for bankruptcy karan561 The International Automotive Scene 0 24th November 2013 21:28
Auto Capital of the World - Detroit files for bankruptcy Gandhi The International Automotive Scene 4 24th August 2013 12:27
Chrylser files for Bankruptcy Protection evo The International Automotive Scene 24 18th August 2011 10:05
Delphi files for Bankruptcy amit The International Automotive Scene 2 12th October 2005 15:25


All times are GMT +5.5. The time now is 17:00.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks