The global recession placed an already mismanaged American automotive industry in even murkier waters. The Ford Motor Company were able to pull itself up out of the water where rivals like GM has not. The resulting automotive bailout funds may have kept some companies from going under, but it scarred their public reputations within the process. Ford prides itself on not accepting Troubled Asset Relief Program (Troubled Asset Relief Program ) funds, and the gamble paid off in spades for the automaker. Automotive News accounts the respect Ford Motors earned has translated into a highly sought-after industry award, the 2010 Marketing Age “Marketer of the Year”.
Ford had been in tough times like the rest
Ford Motors was in the hole only like everybody else. The poor economy got each and every automaker to this point. $14.6 billion was lost in 2008 by the company. However, “the brand that Henry built” did not give in to temptation like the majority of Detroit auto row. The business refused to get TARP funds “worth more than $1 billion of coverage and customer interest.” Automotive News accounts Ford Motors marketing chief Jim Farley saying this. “If I had to go out and advertise, it would be that kind of bill in paid media. It’s a once-in-a-lifetime thing.”
'$1 billion in totally free goodwill’ is what it was
Advertising Age refused to give Ford the 2010 Marketer of the Year award for what was not done although its public image was good for not taking the TARP funds. Now, the automaker is number 2 in the United States of America That is where Ford Motors stands now anyway. Ford’s reputation is much better then GM although the company has a 17 percent share of the automobile and light truck sector via Sept putting them right behind GM. A hot new version of the Fiesta and crackling advertising campaigns has boosted the automaker that has held the American imagination since the Good Depression. There is nearly double the industry-wide boost with a 19 percent sales boost within the United States of America through September. This is what Automotive News reports. Ford’s $4.7 profit over the first half of 2010 is the largest boost over such a period since 1998.
Articles cited
Automotive News
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