The "Big Three," U.S.-based automobile manufacturers, General Motors (GM), Ford Motor (F) and Chrysler (C), are all failed companies - in the United States that is.
With the past year's spike in gasoline prices, the lucrative market for gas-guzzling SUVs, pick-up trucks, Hummers, luxury cars, and the myriad of other inefficient products has collapsed. The Big Three are now left with a mix of uncompetitive products that few people want, let alone can afford.
GM promises better times ahead - maybe in 2010 - with their electric Chevrolet Volt. Sounds promising. But GM, in their infinite wisdom, thinks that Americans will be willing, not to mention able, to shell out perhaps $40,000 for a Chevy Volt, rationalizing it because they will have to spend that much less for fuel. Here's the problem with GM's lack of thought: who is going to finance $40,000 automobiles for the middle-class? Banks? GMAC?
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