Giants require 25 billion U.S. dollars to avoid bankruptcy
American car manufacturers have shown some days ago, restructuring plans required by Congress in exchange for public aid worth 25 billion dollars.
Advertisements
To avoid bankruptcy, General Motors needs 12 billion dollars, of which 4 immediately and 8 until March 2009, plus a reserve of 6 billion, which could be used if, after a year of recession, sales would still be below the level expected. Sales in November registered a decrease of 37%, an additional argument in favor of American auto manufacturers applications.
Ford's restructuring plan of activity require 9 billion dollars and provides cancellation of all premiums and bonuses for the year end, reducing the number of concessions and the development of electric models. Although Ford has used 7.7 billion dollars of cash money in the third quarter, its worldwide sales registered a decrease of 31% in November, which is why they will cut up to 38% production capacity of North America in the first quarter of 2009.
In turn, those in Chrysler have calculated valaorea restructuring required in order to keep afloat, to 7 billion dollars needed by the end of this year.
You may also be interested in . . .
Help U.S. auto colossi
American Executive has granted a loan of $ 13.4 billion for General Motors and Chrysler, From 700 billion fund for rescuing banks. A second... Chrysler seeks loan money again
![[title-raw]](http://www.eaglecars.com/files/imagecache/tiny/chrysler_seeks_loan_money_again.jpg "[title-raw]"){kind=small}
U.S. Chrysler Group wants to attract a new line of credit, two to three billion dollars for the loan to refinance $ 7 billion over two years ago... American giants in collapse
Two of the three American auto industry giants, Chrysler and General Motors is in financial collapse, after the Senate rejected the auto... While Toyota madam, the U.S. auto industry is close to collapse
Problems American auto industry continued, Chrysler Group announced the disposal of over 13 thousand employees. Issue Chrysler Group come in the... American car dealers, hurt by financial crisis
According to analyst’s estimates, 3,800 U.S. auto dealers will be forced to close gates, to keep average deliveries per point of sale in 2009,... Drop the Daimler Chrysler
Chrysler made steps toward avoiding bankruptcy, reaching a preliminary agreement with the largest union in the U.S. and won or validation of a... A decision on sale Chrysler will be taken very soon
A decision on sale of subsidiary Chrysler, the American group Daimler Chrysler Could is taken very soon, even next week, according to reports in...