Consumer sentiment mirrors initial reaction to bank bailout package
CAMBRIDGE, Mass., Nov. 3 /PRNewswire/ -- CarGurus(R) ( http://www.cargurus.com/), a leading online automotive community, today announced the results of its survey of more than 8,000 online automotive consumers worldwide. Fifty-two percent of respondents said they do not support a government bailout for General Motors and Ford. While 48% do favor some sort of bailout, the survey illustrated the lack of consumer consensus on bailouts and in particular federal support for these leading U.S. automotive manufacturers.
Lack of consensus mirrors split over bank bailout package
"In these tough economic times, consumers appear to be torn on whether to support Ford and GM with some sort of federal assistance," remarked Langley Steinert, CEO/co-founder of CarGurus. "Not unlike the close votes in Congress on the bank bailout package, the nation is split on federal assistance for private industry. Many see it as a necessary step to save jobs, but an equal proportion find it hard to stomach using public funds to support private industry."
Survey Results
Across the CarGurus Network, 8,000 respondents answered the question:
Should the government bail out GM and Ford? (Total Votes = 8,000)
-- No - 52%
-- Yes - 48%
About CarGurus LLC
Located in Harvard Square, Cambridge, MA, CarGurus LLC is a leading online automotive community founded by Langley Steinert and Nick Shanny, formerly co-founders of TripAdvisor LLC, the 3rd largest online travel site in the world. CarGurus' founders, board, and investors bring a wealth of experience from such leading web companies as TripAdvisor, eBay, Expedia, and Yahoo. For more information about CarGurus, visit us at www.cargurus.com.
Web site: http://www.cargurus.com//
