Ford of Canada reacts to the announcement of the government

NOTE TO EDITOR: After the announcement of the U.S. government, the Canadian and Ontario governments today confirms that emergency loans will be accorded a GM Canada and Chrysler Canada. The statements below can be attributed to David Mondragon, president and CEO, Ford of Canada Limited.

-------------------------------------------------------------------------             

"At Ford of Canada, the transformation of our business is on track, and we do not immediately need loans made by governments. Their rather we request a line of credit" extra "that we n ' would use if the present economic crisis worsens. We welcome the rapid and coordinated measures taken by the governments of Canada and Ontario. automotive sector is essential to the economy. Indeed, one in seven jobs Canada depends on this sector.

We also note with satisfaction that the government provides for the travel of the motor assist credit. In their search for a new vehicle, Canadian consumers deserve to have access to loans and leases affordable. It should be noted that every year more than one million Canadian shoppers rely on one mode or the other funding for acquiring a vehicle. There is still much to do. We look forward to continue working with the government on initiatives that will ensure sustainable growth and long-term Canadian automotive sector. "