Euro carmakers want billions in loans, too

[VH_Supra26]

http://www.blogsmithmedia.com/www.autoblog.com/media/2008/10/senate_loan_europe.jpg

This week, Detroit got its $25B bailout loan approved by Washington, and according to The Wall Street Journal, European carmakers are making like this is a game of "Simon Says." The Journal reports that Fiat has proposed the idea of hitting up the European Commission for €40 billion ($55B USD) to help the European auto industry make the move to cleaner, greener cars ahead of the strict new emissions regulations currently being bandied about. Like we said, this rationale is very similar to the one Motown used to get its money.

Fiat's grand idea was presented to other automakers at the ACEA meeting on Friday, and according to a spokesman for the automaker, "All European carmakers agree on the [€40 billion] demand." What a shocker. Said demand hasn't been formally made to EC bigwigs yet, but the lobbying is obviously well underway.

http://www.autoblog.com/2008/10/05/euro-carmakers-want-strike-bailout-strike-billions-in-loans/

[seinkonnen]

Retarded.

[inferno14u]

Retarded.

No, smart move on their part. The cafe standards and all of the new crash standards are making it harder on all the car makers. The fact that the US just handed out cash to its struggling automakers is the perfect timing for the European companies to do the same. And on top of that, they are also losing money because of how weak the dollar is. Just another way to get back a little of that cash without actually passing the cost on to the consumer...at least not yet.