The fate of the entire US auto industry comes down to one name. Chrysler is on the verge of bankruptcy. GM (GM) is likely to file soon after than. Sure, those brands and products may linger on, but it’s all on the original, Ford (F), to carry the flag.
So good news, they beat!
The company lost $1.8 billion in the quarter, about a $1 billion less than analysts had expected.
More important, they narrowed their cash burn rate to just $3.7 billion from $5.5 billion, and reiterated that they have no intention of asking for a bailout.
We still think the odds are stacked against, them, and that they’ll have a hard time surviving an excpetionally long recession. But we’re rooting for them.