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Is it possible that a U.S. auto maker is actually surviving the recession, without government bailout money? Believe it or not, that is the story with one of the "big three," as Ford has managed to not only survive, but to look like they might come out better post recession.
I am very happy to hear about a U.S. car maker that was fortuitous enough to borrow money ahead of the recession, and to create product suited for the wants and needs of a slumping economy. Ford worked hard to push their smaller and more fuel efficient models, such as the Fusion and Focus, way back when gas prices started to rise. They also were able to borrow based on their success as the other "big three" were feeling the strain of dwindling sales in large trucks and muscle cars. Ford's chief executive mortgaged just about everything he could, "including the iconic blue oval Ford logo," and he walked away with $23 billion in credit. Chrysler and GM, where was your forward thinking?
The news isn't all rosy, as Ford's sales have dropped 32 percent from last year, and their hopes center around the projection that sales will rebound towards the end of this year, and into next year. It also is expected that adamant U.S. auto buyers will choose to steer clear of autos sold with bail-out money, and will choose Ford instead of the other U.S. auto makers. I would, Ford should be rewarded for their smart business decisions, and for listening to what car buyers wanted in a new vehicle. The addition of a "battery-electric version of the Focus for the North American market" set to debut in 2011 will only help their image, and likely increase their sales if they can hang on until then.
Way to go Ford, and great job demonstrating that American industrial leaders in auto making are not all out of touch, and in need of bailout money to survive. Here's to hoping that when sales do pickup, you will be rewarded for your efforts. Maybe I'll even put my money where my mouth is, and proudly drive a brand new American made (I would accept a sponsorship if you are willing Ford, just to throw that out there!).