Ford is re-running its financial crisis playbook as it borrows $15.4 billion to avert the coronavirus crisis

• On Thursday, Ford announced that it would tap $US15.4 billion in credit lines.
• The level of borrowing is reminiscent of the carmaker’s actions prior to the financial crisis, when it effectively mortgaged all its assets to borrow $US24 billion, averting the bankruptcies that General Motors an Chrysler endured.
• The program expands on measures previously announced by Ford Credit.

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