In 2009, the Federal government used nearly $25 billion to bail-out two of the Big 3 American motor companies: General Motors and Chrysler. $17.4 billion was given to Chrysler and General Motors. Six billion dollars went to GMAC, and $1.5 billion went to Chrysler Financial.
Ford, however, did not take any bailout money because earlier they had already mortgaged their assets and raised 24.5 billion on their own. Instead of taking bailout money, they asked for a $5 billion loan from the Energy Department. This money was used to accelerate development of both hybrid and battery powered vehicles, as well as to retool plants to increase production of smaller cars.
So what does this mean for Utahns? It means that Ford now offers a wider variety of fuel efficient vehicles. Ford made good on their promise to develop hybrid cars. The Ford C-Max is available in hybrid as well as a C-Max plug-in hybrid.
The 2014 Ford Fusion is also available in hybrid and plug-in hybrid, and the Ford Focus is available in electric. There is now a new competitor in fuel efficient vehicles and Utahns can feel confident buying a car from a company that didn’t have to rely on our tax dollars to stay afloat.