The US government has given Ford a £158 million loan guarantee
9 August 2010

Ford has received a $250 million (£158 million) loan guarantee in an effort to double exports over the next five years.

The money, given by the Export-Import Bank of the US, will finance $3.1 billion (£1.95 billion) of export sales of approximately 200,000 cars.

News of the financing came as President Obama visited a Ford assembly plant in Chicago, which is set to employ a further 1200 people.

Last week, Obama paid a visit to General Motors and Chrysler, the two companies that received most of the $85 billion (£53.6 billion) in government aid from Obama and the administration of his predecessor, George W Bush.

Without this aid, Obama said, both companies would have gone under, dragging down the entire industry including suppliers and Ford.See all the latest Ford reviews, news and video

Join the debate


9 August 2010

Can anyone throw some light on which model(s) will form these exports?

Also am I correct in thinking that if a company wants to sell a car in the US, they have to manufacturer it there, thus providing jobs for the countries workforce?

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Lexus LC500
    Car review
    20 October 2017
    Futuristic Lexus LC coupé mixes the latest technology with an old-school atmospheric V8
  • Maserati Levante S GranSport
    First Drive
    20 October 2017
    Get ready to trade in your diesels: Maserati’s luxury SUV finally gets the engine it’s always needed
  • Jaguar XF Sportbrake TDV6
    First Drive
    19 October 2017
    The handsome Jaguar XF Sportbrake exhibits all the hallmarks that makes the saloon great, and with the silky smooth diesel V6 makes it a compelling choice
  • Volkswagen T-Roc TDI
    First Drive
    19 October 2017
    Volkswagen's new compact crossover has the looks, the engineering and the build quality to be a resounding success, but not with this diesel engine
  • BMW M550i
    First Drive
    19 October 2017
    The all-paw M550i is a fast, effortless mile-muncher, but there's a reason why it won't be sold in the UK