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In a statement livecast on the Internet by the White House, President Barack Obama said that neither of the restructuring plans submitted by GM and Chrysler “ goes far enough to warrant substantial new investment. ”. Chrysler, the President said, is “ more challenging ”. President Obama. President Obama.
Increased new vehicle sales and lower scrappage rates pushed VIO to the highest point on record since Q3 2008. Other findings include: General Motors had the highest share of VIO at 26.6%, followed by Ford (18.9%), Toyota (12.6%) and Chrysler (12.5%). The number of cars and light trucks on the road in the US reached 247.9
Austerity plans will prevent governments in Europe from boosting 2012 sales through scrappage programs and other incentives offered in previous years. Traditional domestic manufacturers, General Motors, Ford and Chrysler, will continue to grow in 2012 as the industry continues to recover.
We’re just days away from the full implementation of the vehicle scrappage scheme and several providers have announced their participation in the Government backed project. Volkswagen has also announced its scrappage scheme offers. The scrappage scheme comes into effect on May 18.
Carmakers are back on board the scrappage scheme following yesterday’s fiasco which saw the like of Ford and Honda suspend their participation in the scheme while issues over VAT payments were cleared up. Tags: Ford Green credentials Honda incentive scrappage scheme suspend.
So after the UK’s vehicle scrappage scheme was hailed a success, what of the so-called “cash for clunkers&# programme in the US? Meanwhile Ford’s US rivals General Motors and Chrysler also showed signs of modest improvement as their rate of decline slowed.
In the US, Chrysler and General Motors fell into bankruptcy; while in Japan even its major automakers have been left reeling from significant profit falls. With few of us having the cash or credit to buy an expensive new addition, the bottom seems to have fallen out of the automotive industry which has been plunged into crisis.
The Car Allowance Rebate System (CARS for short, or ‘cash for clunkers’ as it is more commonly known) was the US’s answer to the scrappage schemes in Germany and the UK which appeared to have revitalised their respective automotive sectors. With General Motors and Chrysler also showing signs of modest improvement, all looked rosy.
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