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Thursday, July 24, 2008

Ford has largest ever quarterly loss...

And intends to retool its line away from trucks at a quicker pace than previously announced.

From Bloomberg:
``They believe this is a permanent shift in buyer sentiment that they have to adjust to no matter how hard it will be,'' said Maryann Keller, an independent auto analyst and consultant based in Greenwich, Connecticut. `This is going to be expensive.''

I'm not so sure this is a "permanent shift," nor am I convinced this price mechanism by itself (taxes or market) will really make a huge short or long run difference in terms of reducing congestion, oil consumption and dependency....

But I guess it doesn't matter what I think, does it :).

Time will tell.

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