WHEAT RIDGE, Colo. -- There was more tough news from America's automakers Friday.

Ford was reporting a big loss, and General Motors announced it taking another government loan worth $2 billion. The struggling automaker has until June 1 to complete restructuring plans that satisfy the government's auto task force.

In the meantime, Ford said it lost $1.4 billion in the first quarter this year. But Ford also said it's confident it will make it through the year without needing government aid.

Despite all the bad news about the auto industry, there are signs of hope for dealerships in Colorado.

Freeway Ford said it is hiring sales people again as business picks up.

The Colorado Auto Dealers Association said dealerships might just be in a temporary pocket of increased sales.

Whatever the case, it might be just the right time for those shopping for a new or used car.

"I'd like to get a Wrangler. I've got a canoe that would match it real nice," said Casey Milroy, who was shopping for a car Friday.

And he isn't unlike the rest of us.

"I want a deal," Milroy said.

His preference is an American automobile, and his timing might be perfect.

"Definitely there's incentives. Definitely there's programs, and definitely that's a benefit," said Tony Gomez, manager of pre-owned cars at Medved Autoplex in Wheat Ridge.

The American auto industry is quite possibly now at rock bottom.

"Right now you've got programs that are as good, if not better than they've ever been," said Tim Myers, Medved Chevrolet's sales manager.

But will it get even worse? Auto giant John Medved said this is it.

"Where the price is today, it's the same as 20 years ago if you adjusted the dollars," said Medved.

Medved once had 600 employees, now he has just 275.

"I had people that I raised from pups that I had to let go and it just killed me," said Medved. "These guys have taken pay cuts and everything. It's been brutal. Really, it has."

The sign outside Freeway Ford proclaimed "Salespeople Needed. Business Is Booming."

But a spokesman for Colorado's dealership association said, "I wouldn't say we're in boom times at all."

Medved said if you're talking about the buyer, it's a great time.

"I'm telling you that it's the bottom," said Medved.

The chief executive officer of Ford said Friday he believes Ford will again start breaking even in 2011.

As for Chrysler, bankruptcy is still looming, but one local Chrysler dealer told us that's all speculative.

In terms of deals, they are out there.

GM is offering zero percent financing on many makes and models right now. GM also has a total confidence plan, which guarantees payment up to nine months if you lose your job.