Honda's Chief Executive Officer, Takeo Fukui, commented that he welcomed the loans extended to the United States automakers. He continued by saying, however, that this issue highlighted how slow the U.S. government was to respond to the crisis in the first place.

"Times have changed," said Fukui. "Their response was too slow." He neglected to mention, though, any other alternatives that could have been taken to remedy the woes of the automakers.

It was last month that President George W. Bush signed an extensive spending bill, which included a $25 billion loan, for the American automakers. Ford Motor Company, General Motors Corporation, and Chrysler LLC have long lobbied for government assistance in order to produce more fuel efficient vehicles to combat soaring gas prices and environmental concerns.

Fukui says Honda was able to avoid as many financial problems as the American automakers by not delving into the once-profitable pickup truck line.   Honda also says that its sales are still holding up despite the gloomy outlook for the industry. Fukei says that Honda is optimistic about the near future, given the upcoming releases of vehicles like the Insight hybrid and a remodeled Odyssey minivan.

Source: Detroit Free Press