Whether or not they actually declare bankruptcy, just having such a survey and having the results of the survey being tossed around coffee tables, office water coolers, etc, is enough to begin rumours that it "might" happen. Some people may not think twice about buying a car from a manufacturer even if they are going under, but I would think the vast majority of car buyers will avoid it like the plague at the slightest possibility that it might. Rumours drive the world of investments, stocks and bonds. Would it be so different for the car industry?
While I might buy a very cheap car from a manufacturer in bankruptcy I think you are very right here.
In particular car sales is a competitive cutthroat business. If I was selling Hyundai and thought I could sway a particular customer into buying my car TODAY simply by having an article sitting on my desk saying Chrysler senis bankruptcy and option despite evidence I'd darn well do it. Its an objection that people at the sales level have little credibility or chance to overcome. "I'm nervous about buying a Stratus I read you might go bankrupt what happens then" Salesperson :"its not true no need to worry" What the heck do you think they are going to say. Heck the rumors will keep some people out of the show romm entirely so you never get CHANCE to counter the objection.
This is already going to hurt sales even if its not true. Add things are are occurring right now (strikes delaying GMs new crossover which is going to result in missinmg sales PROJECTIONS) and it becomes a self fulfilling prophecy.
"I heard GNM is going bankrupt because its not selling enough cars or making profit"
"Naw not ture sales are great and they have a new profitable CUV"
"Well Joey decided to buy a Hyundai because GM might go bankrupt so they just lost a sale"
"GM missed its sales projections (because of the CUV delay) so sales are bad they must be going bankrupt"
"Oh guess I better not buy a GM"
It can really snowball. The problem is how do you stop the snowball?
1. Have sales figures that show a big increase. Tough to do when truck SUV sales suck everywhere and your CUV has been delayed by the union.
2. Do something noteworthy to show increased profitability. Plant closings and job cuts do this but they also don't indicate RISING sales .
3. Selling off divisions can raise $ but once again sends the message that if I buy a car from X that the company could be sold off tomorrow and I'm left in the lurch.
They are in big trouble just trying to prevent the prophecy from fufilling itself