Make no bones about it, 2009 was a rough year across the board. Not just for the automakers, but for everyone. From the Mom and Pops to the conglomerate, everyone got sent back to reality.
Looking to the automakers, the Detroit Three have taken a walloping. For 2009, the domestics got cremated; Chrysler ended the year down 36 percent, General Motors lost 30 percent of sales and Ford took a 15 percent hit.
By no means are these good numbers.
Although Ford did recover towards the year's end with a 33 percent increase in sales year-over-year. Unfortunately, the same cannot be said for the other two members of Motown.
Knowing this, I am curious: was the bailout worth it for Chrysler and GM?
The New York Times reports:
"DETROIT — Automakers ended a miserable year with a mixed December with Ford being the only three of the domestic companies to report higher sales in the month.
The Ford Motor Company said Tuesday that its sales in the United States rose 33 percent in December from a year ago, making it the company’s best month since May 2008. For the year, Ford’s sales fell 15 percent.
Ford’s crosstown rival, General Motors, said its sales declined 6 percent in December, largely because of a 55 percent drop in sales by the four brands it is shutting down..."
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