“Car makers are huge users of cash – we use cash because we are big employers, big investors and because we have huge supply chain systems. So the working capital is necessary to make the company work. And if all of a sudden the banks stop lending or are frozen, you have a serious problem. A very serious, immediate problem.”
Nissan/Renault CEO Carlos Ghosn at the Japan Society, New York City, November 17, 2011
This is a quote which every carmaker, especially the budding ones, should frame and hang on the wall in a spot where it is seen daily. If you want to invest in a new car company, or buy an old car company because it is very cheap, you should write this sentence down by hand 100 times.
Repeat if you still feel the itch.