GM, Ford, and Chrysler, the former Big 3 now dwindled to the Detroit 3, have gone in such different directions they don't seem to be on the same planet - let alone the same city. Will they make it? Fortune grades each on its performance and prospects.
Ford: The No. 2 automaker has refused government loans so far. Thanks to its cash reserves, bolstered by timely borrowing, it's in no immediate danger of running out of money. Nor are its dealers choking on inventory; Ford's stock of unsold cars amounts to only a 78-day supply. But it needs the auto market to improve in order to stem its losses.
General Motors: "Size counts" used to be GM's mantra, but now it has to learn how to think small. Dumping Saturn, Saab, and Hummer, closing down Pontiac and continuing to slash white-collar jobs are causing internal turmoil. As customers worry about a seemingly imminent bankruptcy, GM is having trouble selling cars. It had 736,000 unsold vehicles on the ground at the end of April and more in transit, enough for 111 days.