Well, there’s absolutely no way anybody could have ever seen this coming. There was no way to ever predict anything like this. No posible way to figure out that the massive bailout madness would backfire and leave the tax payers holding the tab. Who would’ve thought that the brilliant thinking behind all of this could have turned out to be idiotic?
But none the less most analysts now expect Chrysler to fail despite the massive amount of cash the government has thrown their way. These hideous numbers, reported by the Associated Press, tell the story of the idiocy that is the automakers bailout:
Even by the standards of battered automakers, Chrysler is in dire shape. Its sales in December were down a stunning 53 percent, far worse than Ford or General Motors, and analysts say it probably won’t survive the year as an independent company — despite $4 billion in government loans and the possibility of more.
Things were so bad last year that a single Toyota model, the Camry/Solara midsize car, outsold the entire fleet of Chrysler LLC’s passenger cars.
It gets worse:
U.S. sales of Chrysler, Dodge and Jeep brand vehicles fell 30 percent last year, the worst decline of any major automaker. It lost more market share than any of its peers, down to 11 percent. Analysts say most of Chrysler’s products, especially its cars, don’t look, feel or drive as well as the competition’s.
But the conclusion is the same as it ever was… in a free market system, propping up a poorly run and outdated company is always an incredibly stupid and dangerous idea. Always. ALWAYS. (maybe if I repeat this truth over and over again some of the people running this country will pay attention)
So what’s up ahead for Chrysler? Well, here’s what one analyst had to say:
“Basically they’re done,” said Aaron Bragman, an auto analyst with the consulting company IHS Global Insight in Troy, Mich. “There is no real possibility of turning this thing around as an independent company in my opinion.”
It looks like either a merger, buyout, or bankruptcy. Although, I’m sure the government will throw another couple billion down the hole before that point.
Ugh, will the madness never end?