Although not the most ground-breaking report we’ve ever come across, a new study released on Wednesday finds that the vast majority of Americans would abandon their new car buying plans if the company behind the brand they were considering filed for bankruptcy.
According to the study – which was conducted by CNW Research – 80 percent of consumers would balk at buying a new vehicle from any of General Motors’ or Ford’s brands if either automaker filed for Chapter 11 protection.
Chrysler would fare even worse, with 91 percent of the 6,000 people surveyed saying they would steer clear of a Chrysler, Dodge or Jeep branded vehicle in the event of a Chrysler bankruptcy filing.
All three of the major domestic automakers are adamant that bankruptcy rumors are unfounded, but the study clearly shows the detrimental effects a bankruptcy filing would have on any of the Big Three. If any automaker were to lose 80 percent of an already declining market, there would be no coming back from the brink.
07/16, 4:45 PM
posted by:
frost
not suprised by that, i mean with the credit crunch, gas prices and the fact that if you bought a car from a company that went belly up, your warentee would more then likely go with the company.
1st post.
07/16, 4:45 PM
posted by:
beatusmongous
Another example of money wasted with useless surveys. It’s such a “well duh” type answer.
07/16, 5:04 PM
posted by:
macabre
and this is exactly why they are going bankrupt–the people who are managing the company are totally clueless. Any crack-head on the street could tell you that no one is going to buy from a bankrupt company. You don’t need a million dollar survey to confirm it.
07/16, 5:06 PM
posted by:
mayer_ray_nagin
In San Fransphinctero, 98% of men salivate when they see a Smart car’s hand brake, and 82% of women want a Subaru-based H3.
07/16, 5:06 PM
posted by:
xyunya
Based on auto domestic companies performance one could conclude that the least talented crack-head is in charge already.
07/16, 5:19 PM
posted by:
ktulu
only 80-91%? How do U buy from a bankrupt compaby? I guess theu figure theuy might go bankrimp but won’t go str8 out of bizness.
Sanb Fransicso needs small vcats.
07/16, 5:24 PM
posted by:
TomF
ktulu: How do you buy from a bankrupt company? Being bankrupt doesn’t mean going out of business. You keep operating without having to pay your bills. United Airlines and Harley-Davidson are among the companies that have gone bankrupt but kept running.
The difference between buying a ticket on a bankrupt airline and buying a car from a bankrupt car company, I guess, is that you don’t much care if the airline goes bankrupt after your trip is over, but you want your car company to be around for awhile — from a resale value standpoint owners have some stake in their survival.
07/16, 5:25 PM
posted by:
inline6
Wow…this is the most doom-mongering BS story I’ve seen on LLN yet.
There is NO indication that any of the Big Three are going bankrupt. NONE. So quit the yellow journalism and give us some stories of substance and fairness.
Also, the only way Chrysler can “fair” worse is in their body shops. They would F-A-R-E worse than GM and Ford if they filed for bankruptcy.
LLN, get writers that can read, write, and spell correctly.
07/16, 6:20 PM
posted by:
1c3d0g
beatusmongous: amen!
07/16, 6:36 PM
posted by:
Random Jerk
CNW Research? You might as well commission a 6th grade class to write the report. If they cite Wikipedia as their only source they’ll be doing better than CNW.
07/16, 6:52 PM
posted by:
S1L1SC
I’d buy a car from them… and prolly get a heck of a deal on it
Considering all the aftermarket companies out there you would have no problem getting parts.
07/16, 7:47 PM
posted by:
VictorRaikkonen
“Wow…this is the most doom-mongering BS story I’ve seen on LLN yet.
There is NO indication that any of the Big Three are going bankrupt. NONE. So quit the yellow journalism and give us some stories of substance and fairness.
Also, the only way Chrysler can “fair” worse is in their body shops. They would F-A-R-E worse than GM and Ford if they filed for bankruptcy.
LLN, get writers that can read, write, and spell correctly.”
Comment by inline6
lol, I picked up on the “fair” as well, how do you post a story and completely miss such a glaring error. But… on the issue at hand, LLN likes posting these doom and gloom stories from time to time to fill space I believe.
07/16, 8:01 PM
posted by:
Need4SSpeed
They aren’t going to file for bankruptcy… I don’t get why they even waste their time making a survey about it.. Not GM, Not Ford, Not Chrysler…
07/16, 9:31 PM
posted by:
fuk-u-asshole
it would be funny if the did
07/17, 12:27 AM
posted by:
johnnycanuck
Maybe they can just claim moral bankruptcy. Hell, they’re all guilty of ****ing the public at one point or another.
07/17, 12:57 AM
posted by:
Need4SSpeed
“it would be funny if they did”
It’d also be more funny if even one of them going under caused the slumping U.S economy into another great depression, and therefore hurting all of the other foreign markets… It’s soo funny that I forgot to laugh…
No it’s straight I get your humor, but really that happening would screw the U.S Economy even more and that’s not something to laugh about.
07/17, 7:07 AM
posted by:
DeansterTJ
Doom-mongering eh? I’ve never seen so much negative news in my life. People like misery I guess. NOt enough sodomy…
07/17, 7:25 AM
posted by:
apeterson13
Well, no shizit. I hope all the domestic automaker go bankrupt. They all make crap cars anyway. Go honda! “It looks like i am holding the head of a gypsy while he is eating my hrum.”
07/17, 9:45 AM
posted by:
Z06ified
“Well, no shizit. I hope all the domestic automaker go bankrupt. They all make crap cars anyway. Go honda! “It looks like i am holding the head of a gypsy while he is eating my hrum.”
Comment by apeterson13″
That’s a brilliant comment. Well, I hope you lose whatever sorry job you have, and end up on the street homeless wondering why Honda won’t hire you.
Since you’re probably a kid (you act like one), I hope you never get a job and end up poor, homeless, and dumb.
07/17, 1:31 PM
posted by:
The Stig
91% steer clear of Chrysler anyway.
07/17, 3:04 PM
posted by:
400horseSS
Why are you mad at that kid Z06, I’ve been hearing comments like that since I’ve been on this site and nobody said sh#t.
10/14, 7:11 AM
posted by:
BMW M1
@mayer_ray_nagin: In San Fransphinctero, 98% of men salivate when they see a Smart car’s hand brake, and 82% of women want a Subaru-based H3.
lol