Eric Reguly of Canadian paper Globe and Mail has a piece on why the Detroit Three should be allowed to go bust. Click here to read the story.
Essentially the gist of the article is that the Detroit Three have gone lazy and have relied on lobbying auto-related laws such as CAFE (Corporate Average Fuel Economy) standards to be able to sell low-tech large guzzling and polluting SUVs at over-inflated prices, while other automakers who actually have to sell their cars in other markets which are not protected continued technically innovating and developing their cars following the global market trends.
The CAFE was a protectionist bailout in disguise, and now when the shit hits the fan, they want to be bailed out all over again, this time with cold hard cash.
Frankly I tend to agree. The only globally marketable car that seems to be coming out of GM’s factories now are all Daewoo-based. It’s ironic – from what was once a cheap car designed to sell in “emerging markets” like the special “ASEAN cars” we get here in our market, the new Daewoo Lacetti (pictured above, to be badged the Chevrolet Cruze) is touted as the car that could save GM, even in the US.