What a joke, spend USD 50 billion 25 billion (maybe USD 5 billion by next week) to bailout the automotive industry. And why? Because the automotive industry is essential to the American economy according to the CEO’s of the Big 3. To give them any money would be a waste, they have consistently shown they are clueless when it comes to cars. GM is the biggest offender of building cars made just for fleet sales. Avis I believe is the largest customer of GM cars, then Avis rents out that trash to unsuspecting tourists and business people. Let’s be real, does ANYONE believe Tiger Woods’ drives a Buick? Even the newly updated Pontiac G6, looks like garbage and that was just released today at the LA Autoshow.
If the automotive companies do get some type of government assistance, it all should go towards alternative fuel R&D. GM created the EV1 which was a great attempt at an electric car and then several years later they came by and crushed every single one of them which is just beyond words. The hubris that only Detroit can create an alternative fuel car was evident on 60 Minutes in early October when Bob Lutz of GM was talking about Tesla Motors. Telsa Motors is based in Silicon Valley and Bob Lutz referred to Tesla as “being from Silicone Valley.” Hugh difference between Silicon and Silicone. He went on to say that Detroit should be the guys making an electic car not some start-up in the valley.
Since the 1980’s the American car companies have completely fumbled when it comes to cars that American’s want. I get the sense they have lost their way and are confused between garage and garbage. Instead of building cars to put inside a garage, they have been building garbage that sits outside.