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.
