Are GM And Ford Going Bankrupt?
GM and Ford reported huge (and growing) losses in Q4 2019, before the economic crisis began. Both companies have suspended 2020 guidance and have drawn down $15B+ on credit lines. Are we witnessing a slow motion implosion/bankruptcy for America’s two largest automakers? It looks like it. Reuters reports, both companies are planning to make 320,000 EVs for North America in 2026 (combined!) … that would be less than Tesla did in 2019. This is super disappointing, and makes their chance of a turnaround look even lower. Let me know what you think in the comments below!
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LINK – GM HyperCharts:
LINK – Ford HyperCharts:
LINK – GM drawing on credit line:
LINK – Ford suspends guidance:
LINK – Reuters report about GM/Ford North American EV production plans:
Music by Marko: & Fritz Carlton:
Disclaimer: This video is purely my opinion and should not be regarded as factual information. I am not a financial advisor. This is not a recommendation to buy or sell securities. Do not assume any facts and numbers in this video are accurate. Always do your own due diligence. As of 03/26/2020 HyperChange host (Galileo Russell) is invested in shares of Tesla (TSLA), Peloton (PTON), Arcimoto (FUV), Snap (SNAP) and long Maker & Bitcoin.