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→Bankruptcy for GM and Chrysler: update
A bankruptcy of the Big Three would not quickly benefit foreign makers. The transplants would be severely hurt by the closing of parts companies like American Axle, Delco and Visteon they share with the Big Three, and their output would fall. There would be far fewer new cars for sale for years, and prices would soar. Eventually imports would come from abroad, but they would be much more expensive than current autos. It takes years to build new plants, and in the current financial crisis there is no funding available for risky multi-billion dollar manufacturing ventures.<ref> Louis Uchitelle, "If Detroit Falls, Foreign Makers Could Be Buffer," [http://www.nytimes.com/2008/11/17/business/economy/17impact.html?_r=1&hp&oref=slogin ''New York Times,'' Nov. 16. 2008] </ref>
A bankruptcy of the Big Three would not quickly benefit foreign makers. The transplants would be severely hurt by the closing of parts companies like American Axle, Delco and Visteon they share with the Big Three, and their output would fall. There would be far fewer new cars for sale for years, and prices would soar. Eventually imports would come from abroad, but they would be much more expensive than current autos. It takes years to build new plants, and in the current financial crisis there is no funding available for risky multi-billion dollar manufacturing ventures.<ref> Louis Uchitelle, "If Detroit Falls, Foreign Makers Could Be Buffer," [http://www.nytimes.com/2008/11/17/business/economy/17impact.html?_r=1&hp&oref=slogin ''New York Times,'' Nov. 16. 2008] </ref>
===Chrysler===
The new Chrysler emerged from bankruptcy in June 2009. The old debts are nearly all gone (except some money it owes the governments of the US and Canada). In terms of ownership of the stock, the UAW union's health care trust has 55%, which it will try to sell as soon as possible on the open market. the American and Canadian governments have 8% and 2% respectively; and Fiat of Italy has 20%. Fiat's stake will grow to 35% after Chryster pays off its government loans. The board of directors is more powerful and has nine members: three from Fiat, four named by the US Treasury, one by the Canadian government and one by the UAW. Actual control is held by Fiat.<ref> See [http://www.nytimes.com/2009/06/11/business/11primer.html?ref=business Michelle Maynard, "Questions About New Chrysler? Here Are Some Answers", ''New York Times'' June 10, 2009]</ref>
All Chrysler factories are now shut down and will reopen after it sells the huge inventory it holds in lots around the country(especially from the closed dealerships). In a year or so Chrysler will be making and selling Fiats.
==Fuel efficiency==
==Fuel efficiency==