Now Tony Clement announces that Ottawa, following the US example, will back five-year auto warranties for any vehicles purchased as of today:
"We felt this was a way to assure the buyer that if you buy a GM product or if you buy a Chrysler product, your five-year warranty for parts and labour and service will be acted upon."
By whom? Government employees?
The auto industry is dying. Those in the sector still with room to manoeuvre are getting out of the industry as quickly as they can and moving on to another, more profitable one.
A separate entity will be created and funded with cash from the automakers and a loan from the federal government to pay for repairs under warranty on each new vehicle sold during the restructuring period.
Where do you suppose that cash from automakers will be coming from? GM is moving toward bankruptcy protection. They've no cash to contribute. Which means that cash "from the automakers" is, in fact, coming from Canadian taxpayers.
Way to go, Harper!
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