The American auto sector can get nationalized within next three months closing the virtual door for foreign automakers – great investment?
Nathan Gulash
Oct. 25, 2008

Chrysler announced that it would slash one-quarter of its white-collar workforce, or almost 5,000 jobs, as merger talks with General Motors intensified.

Ford is deeper water. Ford may get nationalized first followed by the other twp. Sooner or later America will stop importing cars altogether till its can get out of the depression. The dollar’s rise is the signal of that.

Like AIG, the government will buy out the auto sector, the companies will be rescued and prosperity brought back to Detroit.

Carmakers, already hammered by the steep rise in fuel prices, have seen sales evaporate in the past two months as turmoil in financial markets has put a chill on consumer spending. Lenders have also tightened conditions on car financing deals.

Chrysler is especially vulnerable because nine-tenths of its sales are in North America. Its sales volumes were 30 per cent lower last month than a year earlier, in spite of generous discounts and buyer incentives.

If that happens, the battered stocks of Ford may be worth $50 in 2012.

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