Ford Wants Government to Sponsor Cash-for-Clunkers-Type Program

Ford Wants Government to Sponsor Cash-for-Clunkers-Type Program
<a href=https://www.sharperedgeengines.com/used-ford-engines>ford</a> wants government to sponsor cash-for-clunkers-type program
justin sullivan
  • ford is looking to ask for a u.s. government stimulus program to fight back against loss of sales due to the covid-19 pandemic, bloomberg is reporting.
  • the news service quoted ford marketing vp mark laneve as saying ford wants "some level of stimulus," which could mean a cash-for-clunkers-type plan like the one used in 2009.
  • ford hasn't opened talks with the feds yet, the news service says, though it is reportedly looking to do so soon.

    ford motor company is planning to convince the u.s. government to get another "cash for clunkers"-like stimulus program rolling to fight back against loss of sales due to the coronavirus crisis, bloomberg reports, citing ford's mark laneve.

    as of now, the discussion is happening at ford internally, the news service said, but ford reportedly wants to get the government involved soon so that automakers can bounce back after reporting the lowest sales in almost a decade. laneve, ford’s vice president of u.s. marketing, sales, and service, told bloomberg that the company is “in discussions about what would be the most appropriate.”

    a ford spokesperson contacted by car and driver, while stopping short of naming a specific type of program, said the automaker is "encouraging congress to look at a variety of ways to drive job creation, increase demand, support customers, and provide long-term stability for the entire auto ecosystem."

    this quarter, ford's sales declined 12.5 percent, though its truck sales fell by only 5.4 percent. in addition, fca has also reported a quarterly decline of 10.4 percent in the u.s., and gm reported a decline of 7.1 percent.

    a cash for clunkers program, like the one used in 2009, is something ford is considering as the best option. “it would be nice to think we could have something equally as effective for 2020," laneve said. in this model, which took place during a major recession, customers traded in old cars and were credited a flat fee that could be in the thousands toward the purchase of a new vehicle.

    the news comes just a week after ford announced that it is suspending production at its plants in the u.s. and mexico indefinitely. other automakers, such as subaru and nissan, said plants will be shut down until at least late april.

    separately, u.s. sen. chuck schumer (d–n.y.) recently proposed another federal stimulus plan, one that would compensate car buyers with a cash-for-clunkers-style deal if they turned in gasoline-powered vehicles to buy evs. the ford comments do not appear related to that earlier proposal, which schumer announced in october.

    source:caranddriver.com