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The latest TTAC Bailout Scorecard (PDF) is now available. Updates this week include:
• The US makes sales and excise taxes on new vehicles deductible on federal income taxes
• Chinese market sales were up 4.4% in January at least in part due to government incentives.
• German clunker culling incentives spur huge up-tick in smaller car sales.
• Spain unveils new €4.1B aid and incentive package.
10 Comments on “Bailout Watch 396: International Scorecard Version 1.4...”
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Looks like you’re missing Nissan’s DOE loans…
http://www.autobloggreen.com/2009/02/09/nissan-applies-for-doe-loan-program-purpose-unknown/
They hardly matter, but isn’t Tesla applying for DOE loans as well?
Tesla is literally banking on the DOE and other government loans to to build their Model S sedan.
How dare you forget Portugal and the €200M in credit lines extended to auto & parts manufacturers.
http://www.automotiveworld.com/WAM/content.asp?contentid=72956
The BRL 4B or U$D 1.7B in Brazil is for captive finance companies to encourage consumer lending.
http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSL949539020090209
TTAC Bailout Scorecard in handy PDF format? Bloody brilliant! Keep up the great work!
Thanks for the inputs folks! It is very challenging keeping up with all of this.
Well since I already put something like this together for work and made use of this little resource to back up some of my research, I’ll share the rest of what I have.
China:
The RMB 100B for domestic brands to improve technology and energy efficiency is actually only RMB 10B, China Car Times has it wrong. I couldn’t find a public source link, but I used research reports from UBS and KGI (a bank in Taiwan), I trust them just a bit more than a Chinese news site. You can check it if you have a subscription to any of the major banking sites.
The Chinese government also plans to support manufacturer and supplier restructuring through mergers and acquisitions, found through the same sources. It isn’t a dirct bailout, but still relevant.
John:
Thanks for the good work. However, my comments to your last version regarding China still stand.
“Plus, of course, ongoing strict restrictions on auto imports along with domestic ownership requirement for all manufacturing” is simply wrong. Please refer to my previous comments. China imported 410,000 units in 2008 30 percent more than in the previous year. In the same year, China exported 680,700 cars, up 11.1 percent.
“Domestic ownership requirement for all manufacturing” is likewise bunk. If have explained that in detail in my previous comments.
This is The Truth About Cars.
Should this be BW396? There were two unique articles entitled BW394 that I read early yesterday and kept thinking one of them would get “fixed.”
Or do they both count as 394 since they were both about complexity (Editorial BW394: Complexity Sucks; News item BW394: Obama Embraces Complexity…)?
cdotson :
Numerological consistency restored.