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Wed 11 Nov 2008Motor industry caught in the eye of the storm
As the motor industry runs short of cash, with increasing demands for subsidies or loans, is the industry actually finding a natural equilibrium, asks Michael McAleer, Motoring Editor
NEVER MIND oil, it's cash that fuels the car industry. And it's the lack thereof that is strangling the industry's iconic leaders at present. The pressure being put on the US government by the big three car giants - General Motors, Ford and Chrysler - to give them access to a $25 billion (€20 billion) bailout fund is intense. The PR machines of these firms are in overdrive in their home market.
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