(Guest post by Greg Forster)
You, the taxpayer, spent billions of dollars bailing out Chysler and GM.
Great news!
GM’s sales are down 45% from last September (when sales were already bad enough to drive the company into banrkuptcy). Chrysler is down 42%. Ford is only down 5%. Car buyers are clearly punishing the two bailout recipients brutally. Robert Farago of Truth About Cars predicts that GM and Chrysler will both “go down by the end of next year” without a second, new federal bailout. The only question, he says, is whether the two bailed out manufacturers will need the cash before the 2010 midterm elections.
Why is that great news? Because maybe it will help a few legislators learn their lesson for next time.
HT Kausfiles
Perhaps sales would not be so bleark, if they started producing a car like the Homer. I, for one, wouldn’t mind having three horns at my disposal.