The Auto Bailout Might Look Bad, but the Big 3 Look Even Worse
There's no debating that U.S. automakers are in desperate shape
- 1.8 million: number of cars purchased from domestic automakers in July 2005
- 800,000: number of cars purchased from domestic automakers in October 2008
- $169 billion: General Motors' total reported liabilities
- $110 billion: GM's total assets
- $205 billion: Toyota Motor Corp.'s total reported liabilities
- $324 billion: Toyota's total assets
- 730,000: number of people employed by the Big Three automakers
Read more Data Points.
Sources: GAO, Yahoo Finance
Reader Comments
Buck Up
Well, in my opinion, any market that fails to continously upgrade itself to match up to the competition should deserve to fail. However, as tooooooo many jobs are related to this crisis, the bailout is really to deal with the social problem of having too many jobless ppl who may not be skilled for any other job. Who cares about the design of a car unless u've got the money to buy one, right?
It's so sad!!!
I beleive american car makers are amoung the best in the world, Sure they have had some mis-steps in building practices, in giving the public want they want, but they have come a long way in quality and apperence. Can they go a step further? sure. These car companies need to listen to the public and listen hard to want we want to buy and feel proud to put in our drive ways, too many options out their for that way of thinking that they can build anything and we will buy it. Now our standards are much higher than they once were.For instance Chrysler had a concept two years ago the Imperial, beautiful car showed it to the public and got favorable responces for the product then learned that the car was going to be shelved, very dissapointing.From my stand point to much poltics and NOT LISTENING to the customer and what we want. When will it end.
John
Las Vegas
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