They say they are not increasing their incentive spending, but I have a hard time believing that, especially with the zero-percent financing. Chrysler probably has a lot of problems with inventories, and it's trying to solve them by price-cutting.
More Quotes from David Healy:
It's more trouble for the suppliers. Partly, it's a reflection of the fact that Ford and GM are shrinking to reckon with lower market share. And so there's less business to go around for the suppliers.David Healy
Ford is in the intolerable position of having too many plants and too many people, ... Cost cutting needs to come before the end of the year -- layoffs, plant closings, that sort of ugly stuff.
David Healy
I don't think there's any sector- or stock-specific news that is moving these stocks today. The gains you're seeing are a reaction to the steep drop these stocks have taken of late and the recovery the shares have seen for the last few sessions. It's pretty much a group recovery.
David Healy
Everything was great in North America. But they were struggling elsewhere. I think that they're running into a lot of competition in pricing and product.
David Healy
I think the effect has already been felt on Ford's earnings because Ford and the other automakers book themselves in profits when they produce and ship the cars to the dealers,
David Healy
I hate to disappoint the people who want to panic, but this is strictly housekeeping. I would think with all these things cleared up, it may clear out some small hurdles that otherwise might have gotten in the way of a sale.
David Healy
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