Detroit Car Show 2014: The Big Three are back - Ingrassia
Wednesday, January 15, 2014 - 05:09
Jan 15 - Reuters Managing Editor Paul Ingrassia says the mood at the Detroit Auto Show five years ago was doom and gloom, as the big three automakers faced bankruptcy. But in 2014, they're back in a big way.
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I'm here with writers managing editor Paul Ingrassia a well known -- this is actually your 28. -- stage on the penalty box -- a lot has changed in the last couple years. Exactly and you know five years ago -- should always. Known among automotive journalists is news. That was here when Chrysler and General Motors -- going to bankruptcy wasn't there yet but it was around you know incidents or five years ago. This crisis will only consistent between cars and -- or it could even played -- it was all means it was a mosque anything -- we're going room. You know an -- Chrysler's the other emerging -- one company completed the most he began things. Let's move out of state -- Houston. -- Thanks. It's really played -- -- totally different. But this isn't nice -- cattle like this when Ronald suspect Corvette stingray. 2014. Column -- years -- by American automotive writers. A symbol of the reborn general -- you know five years ago who's -- here. This company was recently about to go bankrupt it was unthinkable time. For many years ago -- probably just what it viewed. Restructured. Doubts about the story and dividends to stockholders it's no longer. Government motors. Some governments solo cheers. So you know this company. -- new lease of life it's highly profitable. One down side yes you know the -- here's Wednesday but -- what what is couple years ago. What part of the reason for that is so much good. Really hard for this company's. To gain market share this morning and they've got a woman's. That's right thank yourself. Now executives of major companies well and she is the first female executive any major oil company will be buried there -- GM -- -- No -- she's a very traditional choice. Except for urgent but what it's an error here and -- a -- that. Paul contrasts what we've seen now at GM and they also by the way had the North American truck award yesterday. They've done quite well here. Contrast that to what was going on five years ago at the -- Well the company was really. And it's much -- hours. -- 11 just meant. That it. Let's mostly -- -- to. There. Here to this day -- day. -- -- Existence. So it's been changed. -- You know. It. So Paul rounding out the victory for reform really it hasn't been as rough but. Still a difference five years ago the big difference in the company did not go through bankruptcy didn't get the federal bailout that made it unique among the Detroit three companies. But it came close and it took -- huge. Loans that -- he has repaid and a private homes rebuilt its balance sheet and guess what we do two. -- embassy here this could be. -- of this revolution why well this isn't new F series pickup truck to about forty years has been so Central America. This versions of course one's -- old body. You know we think the effort to increase fuel economy we think of hybrids and electric moment. Lightweight materials could be new frontiers. And you know as a reason for good reasons why aluminum has not -- newsroom bodies. It's expensive it's more brutal and steal. -- they've been able to solve that issue. This whole thing could spread. And -- real impetus to the few games as a community. So Paul looking back the past five years that what's the biggest accomplishment for Ford and GM and Chrysler. Sure survival. It was. What. Five years ago was not at all clear that any or all these companies would be Europeans. Now battle -- -- here but they're also making record profits. Prices -- cropping up beyond you're absolutely right. And this the F 150 remains the top sound and the US as it has been for mortgages and Martin. What is this thing about it it. This little thing this cold man step up and stand against it yes -- that would let you do your cowboys and urban cowboy wanna be cowboy. And climate here. And pop up into the bed of the truck without ripping your tight -- designer jeans. And that is we're -- hand it. Calling gruff yet thanks so much I Rhonda schaffler business writers.
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