To paraphrase Ford boss Alan Mulally, here at the Amsterdam announcement of the company’s new model blitz, “We either invest to survive, or we try to save money and die a slow and ugly death.”

As readers of Steve Cropley’s interview with Mulally in this week’s magazine will have learnt, he is a charming yet straight-talking American who has a history of saving major companies. He arrived at Ford six years ago after pulling Boeing back from the brink, and has already performed a similar miracle with Ford of America.

His next problem is Ford of Europe, which is currently predicted to lose the company a billion dollars in 2012. By anyone’s standards turning that around is a tough call, but when you bear in mind that it’s also set against a shrunken market that shows few signs of recovering, it’s even tougher.