Top quotes from the Reuters Autos Summit

DETROIT (Reuters) - The following are quotes from the Reuters Autos Summit.

ALAN MULALLY, FORD MOTOR CO (F.N: Quote, Profile, Research, Stock Buzz) CHIEF EXECUTIVE

"Clearly the financial and the credit situation in the United States is very, very volatile and mainly associated with the slowing economy, and the value of housing. Key, going forward, is the stabilization of housing prices."

"It's going to take us a while to get through this. From an industry point of view, we think we'll be relatively flat through 2009 and we don't see the start of a recovery ... until the latter half of '09 or '10."

"Ford has fabulous smaller cars and utilities worldwide. People will pay for that value on fuel efficiency. What we're doing is bringing those vehicles to the United States as quickly as we can."

FRITZ HENDERSON, PRESIDENT AND COO, GENERAL MOTORS CORP

(GM.N: Quote, Profile, Research, Stock Buzz)

"There are some sectors of the economy which are stable, if not vibrant. Ours is not one of them. Our industry is operating in a recession."

"It feels like all of the negative variables are factored into the market, factored into the consumer. Perhaps we have found the bottom."

"To see a firm like Lehman have to file for bankruptcy was more than a little sad. Between that and Merrill, and the uncertainties around AIG -- for me, the issue is how does it affect capital formation in the U.S., and I think in the near term what you have is a contraction in credit. Capital markets have been quite difficult to deal with already, and this is going to make it more so in the short term."

MIKE JACKSON, CEO OF AUTO RETAILER AUTONATION INC (AN.N: Quote, Profile, Research, Stock Buzz)

"The American economy is clearly in a consumer recession. The consumer is spooked."

"We're in the 6th or 7th inning, but will have extra innings. This is much more protracted than anyone anticipated. The usual mechanisms to address the economy's weakness have not worked. It's a capital crisis issue."

"We have the traffic and the demand for much higher volumes. When credit becomes available, you will see an increase in volumes."

DICK DAUCH, CEO OF AMERICAN AXLE & Manufacturing Inc

(AXL.N: Quote, Profile, Research, Stock Buzz)  Continued...