Actually, Ford was the only one of the 'big 3' who didn't receive a bailout. They restructured and did everything on their own from what I have read.
This is the North American bailout I am speaking of, which is the only one I was aware of.
How would BMW receive any money? I don't believe the US government would pay for a German company that actually made a profit. And I can definitely say that the German government didn't pay them either. Same would probably be true for Honda. Unless they closed factories in the states and received some subsidies they would have had to weather the storm all by themselves. I believe it were mainly the US and French tax payers who picked up the tab for Renault and GM.godlameroso wrote:BMW GM Ford and Honda were supposedly the biggest car firms to receive bailout money, I don't have the exact source but I remember seeing it somewhere.
OT It has just, in the past two days, came out that Ford did receive money. How disappointing as they were going to be the beneficiaries of my anger at GM.Giblet wrote:Actually, Ford was the only one of the 'big 3' who didn't receive a bailout. They restructured and did everything on their own from what I have read.
This is the North American bailout I am speaking of, which is the only one I was aware of.
That's not how im reading the situation, Ford Credit (and the other Auto Finance arms) used money from the Fed in place of money it would normally get thru other banking sources - it's not the same as Uncle Sam buying GM to save it from it's own incompetenceRedstorm wrote:OT It has just, in the past two days, came out that Ford did receive money. How disappointing as they were going to be the beneficiaries of my anger at GM.Giblet wrote:Actually, Ford was the only one of the 'big 3' who didn't receive a bailout. They restructured and did everything on their own from what I have read.
This is the North American bailout I am speaking of, which is the only one I was aware of.
That was the article I read. Correct it is not the same. Nothing comes for free, but enough of that. Back to the topic at hand, what sort of hampster wheel will go into the back of the cars in 2013???djos wrote:That's not how im reading the situation, Ford Credit (and the other Auto Finance arms) used money from the Fed in place of money it would normally get thru other banking sources - it's not the same as Uncle Sam buying GM to save it from it's own incompetenceRedstorm wrote:OT It has just, in the past two days, came out that Ford did receive money. How disappointing as they were going to be the beneficiaries of my anger at GM.Giblet wrote:Actually, Ford was the only one of the 'big 3' who didn't receive a bailout. They restructured and did everything on their own from what I have read.
This is the North American bailout I am speaking of, which is the only one I was aware of.
http://jalopnik.com/5704575/ford-bmw-to ... ment-money
Full WMSC textFIA finally confirms 1.6-litre engine for 2013
The FIA has finally formally confirmed that a new 1.6-litre engine formula is coming for 2013. Although it had been in the pipeline for some time, there had been attempts to postpone its introduction.
The four existing manufacturers – Cosworth, Mercedes, Renault and Ferrari – now have some 27 months until their new engines have to be on a grid for the first time. VW/Audi is also waiting on the sidelines.
The move is part of the FIA’s laudable attempt to make F1 greener and encourage sustainability, traits that will make it easier for car makers to justift investment in F1.
An FIA press release said: “The WMSC approved the introduction of a new specification engine from 2013, underlining the FIA’s commitment to improving sustainability and addressing the needs of the automotive industry. Following dialogue with the engine manufacturers and experts in this field, the power units will be four cylinders, 1.6 litre with high pressure gasoline injection up to 500 bar with a maximum of 12,000 rpm.
“The engines will deliver a 35% reduction in fuel consumption and will feature extensive energy management and energy recovery systems, while maintaining current levels of performance. In 2013, five engines will be permitted per driver, but each year after that the limit will be four.”