He had no idea that Ford took the money. He is just trying to save face. Anyone who read and understood those documents and what transpired would not make the statement he originally made. And the fact that he is trying to dance around what he said further shows that he doesn't understand what took place. He's just Googling and picking the top result and skimming thru it to make it look like he is well read on the subject. LOL!!
IMHO I don't care what American auto companies got Loans. If it helped save the american auto industry, save tens of thousands of jobs and keep the economy from crashing, then it was worth it.
IMHO I don't care what American auto companies got Loans. If it helped save the american auto industry, save tens of thousands of jobs and keep the economy from crashing, then it was worth it.
But, for anyone to say Ford did NOT receive Billions and Billions and Billions of US dollars from the US Fed Gov't is a damn liar or just extremely naive and can't read Engrish.
https://www.forbes.com/sites/joannm...y-the-answer-might-surprise-you/#2ec3539b6735
Aug 29, 2012
It’s been three years since General Motors and Chrysler filed for bankruptcy, but with the political season in full swing, the two presidential candidates have put the auto industry bailouts back in the public eye, at least through the November election.
Yet there’s only one Detroit automaker still in hock to U.S. taxpayers and – guess what? – it’s not GM or Chrysler.
Ford Motor owes the government $5.9 billion it borrowed in June 2009, the same month GM filed for bankruptcy.
By Sept. 15, Ford needs to start paying that money back. In a government filing, the carmaker said $577 million is due within the next year, and the full amount must be paid off by June 15, 2022.
The Obama Administration, dreaming of a million electric cars on the road by 2015, loaned Ford the money to help it pay for the development of hybrids and EVs, and to retool its factories to produce smaller, cleaner vehicles.
While not characterized as a “bailout” by any means, let’s be honest: Ford’s loan – received at a critical time when other sources of financing weren’t available to automakers or their suppliers – no doubt helped the carmaker Ford survive the industry crisis and contributed to its strong market position today, especially after the Obama Administration finalized tougher fuel economy rules this week.
Indeed, lest we forget: the feds in 2009 were handing out fistfuls of cash to bolster the auto industry, beyond the $64 billion used to bail out GM and Chrysler. Treasury staked another $18.7 billion on rescuing the companies’ auto lending affiliates (it still owns 74% of Ally, formerly known as GMAC).
And the Energy Department doled out billions more to Ford and others to preserve auto-making jobs in the U.S. while steering the industry toward cleaner vehicles.
C8 will hook better on the street than the GT 500 due to weight distribution. 60 rear and 40 front. While GT500 is spinning its wheels the C8 would be 2 cars ahead already and you reached the speed limit of the public safety.
Mustang GT is the best performance bargain.
This. Unless you sell your upgrades separately and put the car back to stock, thats the only way. You lose so much money on the stang and reliability.
GT500 should hold its value if it is a limited production. A base GT PP with 10 speed auto is the best performance bargain in the world. Brand new you can get one below 35 grand. Nobody can deny that.
Yes, I get slaughtered by a car costing almost 40k more. Put $15k into the mustang and run 9's all day. There is no financial argument you can make that the C8 corvette is a better price for performance for dragging. Sorry... and I never said the Mustang was a warrantied faster car with mods, nor would the vette be when it "slaughters" a GT on E85.
100% true and my case and point. The 10spd GT, for dragging, is price-performance wise unbeatable for the invested amount.
Actually that does happen on the street... I do a lot of no prep/street racing in my 900+whp mustang.. trust me my car does better than a 1.6 60' lol.
yea they have slicks, and do 200 foot long burnouts like 10 times in a row then pour down 40 gallons of trackbite or VHT. its basically a dragstrip at that point, they wouldnt hook for shit on a normal road. no non-awd car is pulling 1.6 on a normal street with street tires, especially with a transbrake launch.
They did not actually go bankrupt like GM, there is a huge difference.
I knew this already, Ford never went bankrupt, pre 2009 Ford stock still exists. Ford accepted the loan that they didnt even ask for because of valid competitive advantage reasons , they didnt declare bankruptcy. Do you guys really think what happened to ford and what happened to GM is the same? Its not the same. The bailouts may have actually hurt Ford more than it helped by keeping its competition afloat.
I'll add that with E85 all motor, basically knock free 100% of the time per my logs and cooling effect of the gas, unlikely to blow the engine really with a known/reputable tuner unless you're a moron and over-revving it. Highest likelihood is maybe replacing a fuel pump and or injectors and sensors sooner due to the E content. I already priced all new OEM injectors, pump and sensors relevant in-line and its about $1500 bucks my price, if they all failed. Havent heard of a single instance of this occurring but I know the risk involved if needed.