Originally posted by mclarenman01 Not very surprising... With the exception of some of the Korean manufacturers, a couple of Germans and a few exotic brands I think most makes have been bailed out by governments
How much has McLaren borrowed to finance its F1 effort - EUR1.6Bbn at last reckoning? Are they next?
The Koreans (Daewoo, Hyundai/Kia) were bailed out in the 90's. At that time this collapse was predicted. There was 23% excess capacity globally - which has now been resolved.
Japan escaped unscathed.
VW/Porsche was a fun ride, wasn't it?
Subaru made a PROFIT throughout the crisis - only global car maker to do that. GM sold its interest in Subaru (32% of Fuji Heavy Industries) to Toyota for $1.1bbn, Desperation move, eh?
Ford never got a dime from the government - and they werre never close to insolvency. They de-levered just in time, and had a $32bbn cash horde. They invested in all the new car designs you see on the road now. The Volvo sale to Geely didn't even close until October 2010 - well after the crisis.
And if he considers Volvo a Swedish company any more he's been eating too much reindeer. Volvo is a Chinese company.