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The auto industry is a key component of the U.S. economy. Economists used 2007–2008 data to build estimates of what a shutdown would cost in summer 2008, in order to set benchmarks to help policy makers understand the impact of bankruptcies. Such estimates were widely discussed among policy makers in late 2008. [40]
The 2008–2010 automotive industry crisis formed part of the 2007–2008 financial crisis and the resulting Great Recession.The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry.
The auto industry argued that loan guarantees and other help would try to save tens of thousands of Canadian jobs threatened by the sudden drop in North American car sales. Chrysler Canada has asked for $1 billion in aid, making it the only Canadian arm of the Big Three to make a specific dollar request.
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Manufacturing, which accounts for 10.3% of the economy, was battered by the Federal Reserve's aggressive monetary policy tightening between March 2022 and July 2023 to tame inflation. Though the U ...
A central concern for the automakers is the cost of labor relative to domestic and foreign non-union competitors, particularly as the industry transitions to electric vehicle manufacturing. [5] The automakers have stated that they anticipate the need to invest a significant portion of their profits from gasoline-powered vehicles into new ...
The term Malaise era refers to a period in the U.S. automotive industry from roughly the early 1970s through the early to mid 1980s, characterized by malaise: poor products and a generalized industry unease [1] — an era of profound adjustment as the U.S. automotive industry adapted to meet wholly new demands for more fuel-efficient, safe and environmentally responsible products.
The Changing U.S. Auto Industry: A Geographical Analysis (Routledge, 1992) Seltzer, Lawrence H. A financial history of the American automobile industry; a study of the ways in which the leading American producers of automobiles have met their capital requirements (1928; reprinted 1973) online; Smitka, Michael.