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GM, Ford will be fine, Dana chairman says

10.07.2008 10:00 Shopping - Source: toledoblade.com

NEW YORK — Automakers General Motors Corp. and Ford Motor Co. are “going to be fine” as they try to end losses in a slumping domestic market, John Devine, chairman of Toledo vehicle-parts supplier Dana Holding Corp., said yesterday.

Mr. Devine, a former finance chief at both companies, said in a Bloomberg Television interview, “I have a lot of confidence in their teams.”

He said the combination of high gasoline prices, tight credit markets, and rising materials costs has created the worst North American auto-sales market he’s seen in a career that began in 1967.

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