Ford instantly earned the admiration and appreciation of consumers by declining to take any of the $17.4 billion the government is giving Detroit. The Twitterverse -- first time I've seen that --
"was abuzz with people expressing their gratitude for Ford and their delight in being Ford owners," writes Michael Bush.
The automaker says it needs a $9 billion line of
credit that it will only touch if the economy were to get dramatically worse. In addition, "Ford has been really smart about supporting the bailout package for their rivals," says Doug
Spong, president of Carmichael Lynch Spong. But now Ford's challenge is to turn this groundswell of consumer goodwill into sales.
Over at Chrysler, meanwhile,
The New York
Times'
Bill Vlasic writes that Cerberus appears willing to give up its 80.1% stake "to the
United Automobile Workers and anyone else the troubled automaker owes money to." Chrysler's U.S. sales have dropped 27.9% through November - the worst performance of any automaker in a market
that is down 16.3% overall.
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