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Only one of the big to big two and a half -- two and a half an Italian.
Carmakers not taking a taxpayer bailout but it is well competition essentially -- -- -- now by the government what lies ahead.
For Ford Alexis -- live at the national summit -- Bill Ford executive chairman of the that Ford Motor Co.
That is exactly right -- joining me right now is built or junior bill great to see it thanks for taking the time thanks for having.
What a world we -- living and still love your largest competitors.
In bankruptcy on their way out could you had seen this day.
Never not my wildest dreams -- of course I grew up with this industry I mean I grew up.
From the time I was born -- surrounded by auto -- -- and you know it's really been part of my life and you know now in my wildest -- they never could have envisioned a day where are two major competitors were in bankruptcy with government ownership that it really and this is almost surreal -- compete with the couple.
Really good question I think it's important that we have transparency and -- that the decision making level with General Motors as the regards the government.
And but I really like who we are I mean I love the fact that we're independent that we can make quick decisions that are executives are not distracted by.
Extraneous things than that we.
We have a plan and we're sticking with that night as -- -- really like Korea.
That sounds great on paper but still challenging to compete when they've got the resource is and the -- -- of the US government.
-- how do you do that -- You're not able to cut you get structure in the weighted they have been able to do so -- bargain some of those contracts down to bargain basement prices mean.
-- got to be worried about what that does -- competitive.
There are competitive issues there's no question but if you look at I think what the advantages of of independents give us in terms of freedom decision making speed a decision making been really customer focus.
I -- -- have really like we are -- so.
And that's quite important note though that we do see transparency in decision making at General Motors we understand.
And what -- is going on I don't mean -- -- and I mean we the American people.
The so it's going to be an interesting -- because there's no playbook for this we've never seen this before.
But I I wouldn't trade certainly wouldn't trade places with anybody else.
He mentioned no -- -- here's the problem there's an expectation the industry right now that we can mean maintain where we are right now she's got nine and have.
Ten million vehicles obviously way off the highs.
Though the process of these two companies coming out of bankruptcy is much more dire than -- one of -- anticipates.
Is there -- that you might have to go the government for some how we don't see it.
We really think we have sufficient liquidity to get through all of this and we you know as you would imagine we scenario plan all the time.
The what -- what -- the worst cases and we feel like we're in we're in good shape.
One of the things that may be a mitigating factor to what you dissent is this -- cash for clunkers bill that's going through congress and if that -- an enacted.
And you know enacted you know sometime this year.
Then I that'll clearly help stimulate demand that they had the -- where else in the world that its staff.
Yet demand is so crucial particularly -- time like this where I think consumers' habits are changing there's an expectation is you know they'll now that when I go shopping I'm gonna get a discount.
I expect coming at 57%.
Off or you know that when I -- -- vehicle off a lot right now on the get a great deal.
How would you go out there with new vehicles like the Taurus and go out there and say hey look here's a price point we want you step up.
For the sticker shock.
Well but but it's you know its interest in the great deal isn't just what you pay for it's it's also what you're gonna get back for it when you traded in a minute the residual values are really important.
And that's where you know we've actually are residual values when going up and up and up so if you with a customer.
You know while one of our vehicles.
You have an expectation that 2345.
Years whenever -- traded in.
It would work retain a lot of its values some of the other vehicles that you talking about.
Don't so -- may they may appear like better deals on the front end but they're really not in terms of the overall ownership there.
Part of the process of getting those vehicles getting access to credit that GM AC lots of issues government stepping up to the play.
Basically converted Chrysler financial into GM AC right the health and -- for credit.
Or credits doing very well we we do have access to the market.
You know it's something which we clearly remain concerned about.
But -- we think it's a competitive strength for us to have a -- credit company because.
Our credit company will finance customers through good times bad times high scores lower scores mean that's what they do for a living they're very good at it we're lucky to have.
You quelling -- marketshare they're increasing production.
Are you now looking more to be overseas competition and you have to the domestic players.
You know frankly if we look at everybody because they're all -- by.
You know there's no question if you look at the global landscape -- really three truly global companies with a lot of reach the -- -- looks like an important.
Under this new constellation and so.
You know if you look at who really are major players and every market.
Those are the three major players and so but in -- market it does change mean so.
It's hard for us to say.
Were only looking at this or that company we got to look at him.
All right a real -- -- cafe standards and uniformity.
At the same time you've got gasoline prices escalating very aggressively over the past couple months right what is two issues due to your future models well.
One of the things we decided regardless of all these fluctuations we want to be the fuel economy leader everything went that we participate -- And that's true from the smallest car to the heaviest -- right.
I think if we do that were on her way to delivering that will be fine.
But there's no question from a customer standpoint confusing.
You don't know where the price of gasoline and -- I would like to see a lot more.
-- certainly in the marketplace.
Because he did that well -- the government can do -- -- cap and trade certainly one way to do it you know perhaps the gas tax is another way.
And there are -- there are lots and policy ways you can you can have that done and I'm not here to prescribing one of them.
But I do think from not just from an industry template from a customer standpoint is that anybody bought a car in the last year they've watched the wild gyrations.
They don't know whether that's a good decision or not because what looked at it two dollars -- within that four dollars and then vice Versa.
Interesting is that he did something like -- gas tasks that the gas tax something like that something policy made.
Would that and suggests that more intervention.
More regulation than what we've already seen at this administration.
Could actually help -- -- industry.
-- -- you have to be careful because the last thing I I think that any of us really want is more intervention in this in the private sector and so.
But I do think an energy policy.
Is something that that this country really does need -- it -- and we would be a piece of that but not the only.
He's -- task force if you had to grade them on scale of one to ten how they got.
Look I think they've done a really good job given what they were facing and they came together very quickly.
They they had no playbook mean this was completely.
New to them.
They acted really quickly.
Because it was very important that our supply base that plants that have the supply -- the last.
You just in the collapse of all the manufactured in this country not this GM Chrysler board with Toyota Honda and frankly other industries as well.
So I think the automotive task force.
Move fast they give they listen to people they do with the you know history will judge whether every decision was correct or not.
But the main thing that I that we felt very strongly about is you cannot let the supply base collapsed when he tried.
Something different every day.
I and that's one of the great things about this job is likely to drive the coolest.
Not just ours but our competitive stuff.
Right now I'm driving eight the new Taurus which is just coming out it's.
-- -- like I heard a lot of data mark fields -- thing or two about it and I didn't quit lines got that -- traffic even though I hate.
Season has begun of course and feeling good -- if I can't feel good before training camp he never get a feel good guy I really like this that we got in.
You know it's the economics of the first -- -- insane.
But we got the player we wanted and so far that all the reports are great all right well I'm site perhaps next time mommy to out of Ford -- -- to do that I think somewhat --
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