Now Ford is copying Hyundai's assurance plan

[tidus1203]

DEARBORN, Mich. (AP) -- Ford Motor Co. said Tuesday it is offering a payment protection plan to help reassure consumers who may be putting off buying a new car because of worries about losing their job.

The offer comes as auto sales have been battered by the recession and tight credit.
Ford said Tuesday it will cover payments of up to $700 each month for up to a year on any new Ford, Lincoln or Mercury vehicle if consumers lose their jobs. The program runs until June 1.
Hyundai Motor Co. has been offering a deal that allows buyers to return a vehicle within a year if they can't make the payments due to a job loss or disability. That offer helped curb the decline in the South Korean carmaker's U.S. sales in February.
Dearborn, Mich.-based Ford is also offering zero percent financing on certain Ford, Lincoln and Mercury vehicles.
"Consumers remain anxious about the economy and their own outlook for the future," Ken Czubay, vice president of sales and marketing, said in a statement.
Ford's announcement comes a day after President Barack Obama said the government will back new car warranties issued by General Motors Corp. and Chrysler LLC, who have accepted federal assistance and are seeking more, to help boost consumer confidence about buying their vehicles.
Ford has not requested federal bailout funds.
Ford also said that it will offer more details in April on its program to help charities affected by the economic downturn.
Ford's shares rose 6 cents to $2.82 in premarket trading Tuesday.

http://finance.yahoo.com/news/Ford-t...-14794031.html

[tidus1203]

And now even GM follows Ford...

http://finance.yahoo.com/news/GM-to-...=TBD&ccode=TBD

But they will still go bankrupt!

[parakitoJDM]

And now even GM follows Ford...

http://finance.yahoo.com/news/GM-to-...=TBD&ccode=TBD

But they will still go bankrupt!

GM ? perhaps. but now u can really see Ford's strength.
1. commitment to backup their products.
2. Quality up there with the Japanese (some are better).
3. Good product portfolio (could be better), their Hybrid just
beat-out Camry/Prius hybrid comparison test by a major US mag....
and that mag has been known to be really objective in their tests...
4. haven't availed of any Federal Govt. bailout fund.
5. + they've made "Mass Production" concept over a hundred years ago with the Model-T.

on the otherhand, South Korean govt. who is heavily funneling funds to Samsung / Hyundai is also in danger.... they've deliberately devalued Korean WON in the last few months just to reduce exports erosion (i think down by over 35%).

anyway main message is:
I'd only buy a Hyundai/Kia if it were built in Pinas....
{hope i don't eat my words with the 200hp diesel, hahaha.!}

[SIZE="6"]buy Ford, proudly Philippine made.

help protect local jobs![/SIZE]

[uls]

Mejo OT

the USG now has a plan to encourage people to buy new cars

CASH FOR CLUNKERS!

http://online.wsj.com/article/SB123853805152575391.html

WASHINGTON -- A plan to give government cash to consumers who trade in their old cars gained sudden momentum this week after President Barack Obama supported the concept as part of his effort to revive the U.S. auto industry. But the so-called cash-for-clunkers plan still faces hurdles.

Bills by Rep. Betty Sutton (D., Ohio) and Sen. Dianne Feinstein (D., Calif.) would provide cash vouchers to buyers who turn in inefficient older cars and purchase newer ones with better gas mileage. The concept is similar to one that has been used in Europe to spur sales, most recently in Germany.

The idea had been attracting moderate interest in Congress for months. But in his sweeping remarks on the auto industry Monday, Mr. Obama said he wants to work with Congress to find ways to find money for such a program in his economic-recovery package.

[tidus1203]

Now the government is in the car business. Socialism at works. Now the US is probably more socialist than China at this point.

Now the government will back up you GM warranty!

[uls]

haha

the USG is now a central planning govt

[shadow]

parang meron ng thread na ganito...paki merge na lang mods doon sa "get out of US dollars now!"

ay magkaiba pala si Tidus and uls lang pala ang parehong nagrereplay...hehehhe

peace...

[tidus1203]

haha

the USG is now a central planning govt

May CEO pa ang GM, pero puppet na lang sya ni Obama... Now the USG will need a whole new executive department. The Department of Auto Sales and Maintenance The department will oversee the sales of GM and Chrysler cars It will also be alotted budget by the USG to give incentives for people to trade in their old cars for new ones. Budget is also alotted for warranty claims

[uls]

haha

and you can buy comprehensive insurance for your car from the US Department of Insurance (AIG)

[alainroyce]

haha

the USG is now a central planning govt

The True/Original [SIZE=4]USSR![/SIZE]

[SIZE=4]United States Socialist Republic[/SIZE]...

[number001]

Over time, this whole assurance plan hoopla business will implode into another crisis of some sort. Mitsubishi in the US experienced something similar to this in the early 2000s. They relaxed their lending requirements and suddenly anyone can easily own a Mitsubishi. Yep, you guessed it. After a few years, people were defaulting in staggering numbers and leading to huge losses to Mitsubishi. Yeah, just like this sub prime mortgage crisis, but on a micro scale.