What would happen if GM, Ford, & Chrysler went bankrupt?

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weng94

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Does that mean there will be no American cars made anymore??? Will that mean we only have a choice of buying Japanese or European branded cars?
Will vote for best answer
 
Not to worry. People would still need cars and other manufacturers would build factories in North America to fill the void. Of course to get jobs there the union workers would have to take huge pay cuts and actually earn their money.
 
It would mean that many jobs would be lost. That would be the most significant impact. But it might also mean that newer, better, and more competitive companies may emerge as a result. New companies who would make a better product for a better price. But you must also remember that just because a company goes bankrupt doesn't mean that it has to go out of business. It can still continue even in bankrupcy.
 
100's of thousand's of people would be put out of work worldwide, a lot of the parts that go into making an american car are made in other countries
 
Those three companies are worldwide, not just US. They have their fingers in a lot of pies, but their story is, Poor Me. They'll have to do like Crysler did when they were on the ropes the last time- build a better product. Didn't they learn anything from Harley Davidson? Stop building crap and saying American labor is too expensive. The Germans can afford to build cars here. The Japanese can afford to build cars here. We'll have the South Koreans and Indians building cars here too. If we want GM we can buy Vauxhall, GMC or Holden. We can buy English Fords and Mazdas. We can buy Hillmans if we want to support Crysler. The Big Three are bigger than they lead us to believe.

Look at it this way: The last American television was built a generation ago. Did we run out of televisions? No, we get them from everywhere else. When we aren't willing to be best, we lose everything, because it's "Root hog, or die".
 
I believe there are no suppliers of military vehicles needed to fight any big battle (US surrenders to anybody it is fighting now)

Some small auto manufacturers will still be around for you to choose
 
Yes, BUT look at the bright side... Im not gonna tell you the bright side so you can vote for me...yep just imagine the bright side...ahhhhh, wasn't that relaxing????
 
Lots of lost jobs, in the hundreds of thousands, but the companies won't go away. After 9/11, several of the big airlines went bankrupt, but they'll still flying. It would hurt the economy, not just the auto makers, but Wall Street as well, but they'll bounce back
 
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