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WASHINGTON (Reuters) – President Barack Obama and Democratic lawmakers reached agreement on Tuesday on a legislative proposal designed to stimulate U.S. auto sales, which have fallen to near 30-year lows.
The one-year plan crafted by members of the U.S. House of Representatives would offer vouchers worth up to $4,500 for owners to replace their less fuel efficient vehicles for models that get better gas mileage.
The goal of the "cash for clunkers" legislation is to sell 1 million vehicles.
"By stimulating consumer demand for new vehicles, this proposal will directly benefit domestic autoworkers and automotive manufacturers, which have arguably been hardest hit by the current economic downturn," said Rep. John Dingell, a Michigan Democrat and staunch industry ally.
House Majority leader Steny Hoyer has embraced the proposal and said in an interview with Reuters in April that the measure would be acted upon quickly once proposed.

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6 myths about the Detroit 3

Detroit Free Press 11/17/08 by Mark Phelan (c) Copyright 2007, Detroit Free Press. All Rights Reserved.

• The debate over aid to the Detroit-based automakers is awash with half-truths and misrepresentations that are endlessly repeated by everyone from members of Congress to journalists. Here are six myths about the companies and their vehicles, and the reality in each case.
• Myth No. 1
• Nobody buys their vehicles.
• Reality General Motors Corp., Ford Motor Co. and Chrysler LLC sold 8.5 million vehicles in the United States last year and millions more around the world. GM outsold Toyota by about 1.2 million vehicles in the United States last year and holds a U.S. lead over Toyota of about 560,000 so far this year. Globally, GM in 2007 remained the world's largest automaker, selling 9,369,524 vehicles worldwide -- about 3,000 more than Toyota. Ford outsold Honda by about 850,000 and Nissan by more than 1.3 million vehicles in the United States last year. Chrysler sold more vehicles here than Nissan and Hyundai combined in 2007 and so far this year.
• Myth No. 2
• They build unreliable junk.
• Reality The creaky, leaky vehicles of the 1980s and '90s are long gone. Consumer Reports recently found that "Ford's reliability is now on par with good Japanese automakers." The independent J.D. Power Initial Quality Study scored Buick, Cadillac, Chevrolet, Ford, GMC, Mercury, Pontiac and Lincoln brands' overall quality as high or higher than that of Acura, Audi, BMW, Honda, Nissan, Scion, Volkswagen and Volvo. Power rated the Chevrolet Malibu the highest-quality midsize sedan. Both the Malibu and Ford Fusion scored better than the Honda Accord and Toyota Camry.
• Myth No. 3
• They build gas-guzzlers.
• Reality All of the Detroit Three build midsize sedans the Environmental Protection Agency rates at 29-33 miles per gallon on the highway. The most fuel-efficient Chevrolet Malibu gets 33 m.p.g. on the highway, 2 m.p.g. better than the best Honda Accord. The most fuel-efficient Ford Focus has the same highway fuel economy ratings as the most efficient Toyota Corolla. The most fuel-efficient Chevrolet Cobalt has the same city fuel economy and better highway fuel economy than the most efficient non-hybrid Honda Civic. A recent study by Edmunds.com found that the Chevrolet Aveo subcompact is the least expensive car to buy and operate.
• Myth No. 4
• They already got a $25-billion bailout.
• Reality None of that money has been lent out and may not be for more than a year. In addition, it can, by law, be used only to invest in future vehicles and technology, so it has no effect on the shortage of operating cash the companies face because of the economic slowdown that's killing them now.
• Myth No. 5
• GM, Ford and Chrysler are idiots for investing in pickups and SUVs.
• Reality The domestic companies' lineup has been truck-heavy, but Toyota, Nissan, Mercedes-Benz and BMW have all spent billions of dollars on pickups and SUVs because trucks are a large and historically profitable part of the auto industry. The most fuel-efficient full-size pickups from GM, Ford and Chrysler all have higher EPA fuel economy ratings than Toyota and Nissan's full-size pickups.
• Myth No. 6
• They don't build hybrids.
• Reality The Detroit Three got into the hybrid business late, but Ford and GM each now offers more hybrid models than Honda or Nissan, with several more due to hit the road in early 2009.

Labels: Amercan Automobiles, Automotive industry, car finance, ford finance, ford of ocala.com, marion county ford

Labels: ford F-150, ford finance, ford of ocala, Truck month

Ford to consumers: Loans are available... Ford Motor Co. has a message for consumers: "We have our own finance company and we are still loaning money and leasing cars, the The Detroit News reports. All the talk about the credit crisis is keeping consumers away from dealerships. But Jim Farley, Ford's head of sales and marketing, says his company is still able to get loans and leases for most customers with decent credit through its finance arm, Ford Credit. He said this is "a critical advantage" at a time when some manufacturers are turning people away. "Ford Credit is still in business," he told journalists at a dinner Monday night. "We have to start pointing that out. It's up to us to communicate it."

Labels: ford finance, ford of ocala, ford of ocala.com, loans

Ford of Ocala, the leading dealers for Ford vehicles in Ocala, Florida, is pleased to announce that the quality of Ford, Lincoln and Mercury brand vehicles rose to the top of the charts and equaled Toyota and Honda brands, according to the first quarter 2008 US Global Quality Research System (GQRS) study, conducted by RDA Group of Bloomfield Hills, Michigan.

The GQRS Study revealed that Ford matched Honda in initial quality, placing it at the top, on par with Toyota and Honda; Ford's vehicle quality has improved to 8 percent when compared to 2007; and every new car and truck, including the 2008 Ford Focus, has been launched with quality, far exceeding its predecessor.

Ford of Ocala specializes in Ford sales, service, spare parts, accessories and finance. Find out more about the exciting range of Ford vehicles at Ford of Ocala, 2816 N W Pine Avenue Ocala, FL 34475. Call at (800) 292-3338 to speak to a Sales Advisor.

Labels: 2008 ford, 2008 Ford Focus, ford accessories, ford finance, ford model, ford sales, GQRS