Monday’s announcement that GM is filing for Chapter 11 bankruptcy is another important development during this unprecedented period for the auto industry and the global economy.
The Ford team continues to monitor the industry environment and plan for all contingencies to ensure our transformation plan remains on track. At this time, we do not expect any major disruptions to our operations as a result of Monday’s news.
We share President Obama’s hope that GM’s bankruptcy will be controlled and orderly, and we continue to believe it is important that our governmental leaders and the U.S. Automotive Task Force remain focused on the stability of the supply chain and on ensuring that a healthy U.S. auto industry emerges from this difficult economic period. We look forward to working with the Obama administration to ensure that the government’s majority ownership of GM will not change the industry’s competitive dynamics and that a level playing field will be maintained.
Ford remains absolutely committed to continuing to make progress on our transformation plan without accessing emergency taxpayer assistance from the U.S. government. We have been executing our plan for several years and now gaining market share and new customers with an unprecedented number of new high-quality, fuel-efficient vehicles, such the new Ford Fusion, F-150, Lincoln MKS and Lincoln MKZ. Coming soon are the highly acclaimed Ford Taurus, Lincoln MKT and Transit Connect.
Ford Facts
On June 4, 1896 Henry Ford made a successful pre-dawn test run of his horseless carriage, called a “quadricycle” through the streets of Detroit.
On May 19, 2009 production of Ford’s EcoBoost engine began. Ford employees celebrated the start of production of Ford’s EcoBoost engine at Cleveland Engine Plant No. 1. The EcoBoost engine is a key part of Ford’s plan to deliver affordable fuel economy and power for millions.
To some degree; all of the Big three ignored the need to improve thier products in a fast manor to combat the rapidly advancing & rapidly improving imports since the early 70’s. Gee… Who didn’t see this coming?
By anthonydalrymple. June 26th, 2009 at 12:46 pmI’m glad to see plenty of indications that both GM & Ford build quality has improved greatly. I’m impressed with the recent news of a Ford tested Hybrid Fusion recently got around 80mpg. I have no desire to ever own any import….
For many years I can remember the Detroit 3 thowing a lot of money around but lucky to make a 5% return on sales after taxes. However this was considered acceptable by those in command. I always wondered how in the heck they planned to pay everyone’s pension and health plans. The truth is they did not have a plan, at least one that was workable. So here they are bankrupt and asking for a bailout and getting part of one, if not the whole thing. Chrysler is nothing but a hedge fund that the US government is giving money enough to keep them out of court.
By ranchero67. June 10th, 2009 at 1:50 pmGM is a mess from what I see and hear. The government stripped the one part of the company… Opel that was helping make money instead of burning it.
GM management just played the game wrong and spent too much money where it was doing little good. I was shocked to hear Saturn never was profitable.
I always thought the idea was too “Make money”.
It’s sad about GM and Mopar that’s for sure and I’m sure Ford will gain market share because of it too. Now with the shutting down of the Pontiac line which is another sad story GM is down to three makes. I’m a diehard Ford guy and have been all my life but Ford had better get their act together better than ever before because the competition out there is killer. I just hope their engineers and designers come up with cars and trucks that are bulletproof, that more people will want to buy. I truly hope they can do it.
By mytmike. June 6th, 2009 at 6:29 pm