With Ford and GM's dependence on trucks, and a lack of significant meaningful products on the sedan side, they will continue to struggle.
There is still a lot of work to do beyond the Ford agreement. The scale of restructuring in the industry is just enormous. It is going to take time, take some aggressive actions, and it is going to be expensive.
The numbers are much worse than I thought they would be, especially given how Ford beat the estimates earlier this week.
It's like the GM and Ford locomotive has stopped, but all the cars behind it, all the way back to the caboose, are still moving, and it's piling up like an accordion.