"The Canadian and Ontario governments have demonstrated strong leadership in the decision to support the country's auto sector. At Ford of Canada, we are well on our way to transforming our company and do not need immediate access to government loans. Instead, we have asked the government for a "stand-by" line of credit to be used only if the current economic crisis worsens.
However, we look forward to working with the government to create ways to stimulate the industry in Canada. For example, by providing support to the auto credit market, the government would help the more than 1 million Canadian vehicle buyers who rely on financing each year. Other actions could include tax holidays for new vehicle purchases and incentives to encourage consumers to trade-in older vehicles and buy new, lower-emission vehicles.
We are all working toward the same goal - a prosperous auto industry that can help fuel a strong Canadian economy."
For further information: Lauren More, lmore@ford.com
