The Detroit Three are letting details dribble out from their “turnaround” plans:
The plan also calls for an investment of about $14 billion in advanced technologies and products to improve fuel efficiency over the next seven years. Ford is looking to launch a battery electric van-type vehicle for commercial fleet use in 2010 and a BEV sedan in 2011.
GM (GM: 4.81, +0.22, +4.8%) , meanwhile, is expected to focus on efforts to lighten its heavy debt load and consolidate or sell at least one of its eight auto brands, most likely Saab, the Wall Street Journal reported, citing people familiar with the matter.
Chrysler plans to forge an alliance to share fuel-efficiency technologies, the Washington Post reported. The company also is likely to stress its need for cash to stabilize the company.
That’s it? The Titanic is sinking, and their solution is to tell Washington they might need a slightly bigger bucket.