Although Ford did not need money from the $80 billion bailout program, Ford did receive $5.9 billion in government loans in 2009 to retool its manufacturing plants to produce more fuel-efficient cars, and the company lobbied for and benefited from the cash-for-clunkers program — contrary to the ad’s testimonial that Ford is “standing on their own.”
Ford did not ask for a government bailout, but received other financial assistance. Ford supported the GM and Chrysler bailouts to protect its supply chain and dealer network.
Mulally, Dec. 5, 2008: In particular, the collapse of one or both of our domestic competitors would threaten Ford because we have 80 percent overlap in supplier networks and nearly 25 percent of Ford’s top dealers also own GM and Chrysler franchises.
Mulally, Dec. 5, 2008: In addition to our plan, we are also here today to request support for the industry. In the near-term, Ford does not require access to a government bridge loan. However, we request a credit line of $9 billion as a critical backstop or safeguard against worsening conditions as we drive transformational change in our company.
Ford received a lot of funds and support in and around that time, both directly and indirectly. However it is fair to say they handled the downturn better than Chrysler and GM.
Although Ford did not need money from the $80 billion bailout program, Ford did receive $5.9 billion in government loans in 2009 to retool its manufacturing plants to produce more fuel-efficient cars, and the company lobbied for and benefited from the cash-for-clunkers program — contrary to the ad’s testimonial that Ford is “standing on their own.”
Ford did not ask for a government bailout, but received other financial assistance. Ford supported the GM and Chrysler bailouts to protect its supply chain and dealer network.
Ford received a lot of funds and support in and around that time, both directly and indirectly. However it is fair to say they handled the downturn better than Chrysler and GM.