Stephen Rees's blog

Thoughts about the relationships between transport and the urban area it serves

Chrysler losses reflect declining fortunes of US car industry

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Chrysler losses reflect declining fortunes of US car industry | | Guardian Unlimited Business

Not just Chrysler but Ford too (scroll down the Guardian article for their terrible quarterly results)

Now if these were public sector corporations, the right wing would be howling for closure – just like they do against Amtrak or PBS, never mind that these agencies provide a public service that the private sector wouldn’t, but people appreciate. At least Chrysler appears to have seen the light and is going to switch to more fuel efficient vehicles. Ford, which produced the innovative and highly successful Taurus in response to earlier fuel price hikes, has scrapped that model line and is concentrating on ever larger pickups and SUVs. Henry Ford II coined the phrase “mini cars mini profits” – but ever bigger vehicles (you cannot call them cars) seem to be producing massive losses. If I owned any shares in Ford, I would sell them

Written by Stephen Rees

October 25, 2006 at 3:22 pm

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