Financial Times FT.com

Detroit paints an increasingly bleak picture

By John Reed and Bernard Simon

Published: December 3 2008 23:32 | Last updated: December 3 2008 23:32

For carmakers, industry consultants, and creditors inured to the Detroit car industry’s worsening problems, the business plans presented to Congress this week by the carmakers as back-up for their request for federal aid seemed to contain little that was new.

Ford Motor outlined its accomplishments over the past two years in reinventing itself as a leaner company with more fuel-efficient models. Chrysler rolled out familiar figures on the gains it had made in productivity at its plants, which it said rivalled Toyota’s.

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