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A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009. Following dramatic drops in automobile sales throughout 2008, two of the " Big Three " U.S. automakers – General Motors (GM), and Chrysler ...
The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971 to 1973 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981 to 1983, during and after the Gulf War when ...
By KATHY BARKS HOFFMAN LANSING, Mich. -- Mitt Romney stood in front of an auto factory in his native Michigan during his 2008 presidential race and vowed to bring back jobs, a popular message that ...
The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
General Motors Corp. (GM) and Chrysler have received $17.4 billion in U.S. funds (so far), which they received only after much congressional teeth gnashing. Meanwhile, American International Group ...
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NLPC was a high-profile critic of the bailout of the auto industry by the United States government. NLPC’s spokesman was Mark Modica, a former Saturn dealer business manager and wiped-out GM bondholder. Following a demand by NLPC, General Motors in 2014 recalled 1.3 million vehicles with a steering loss defect uncovered by Modica. [24] [25] [26]
AJ Mast/APFiat and Chrysler CEO Sergio Marchionne MILAN and NEW YORK -- Italian carmaker Fiat has brought in a veteran of the 2009 U.S. auto sector bailout in a bid to break the deadlock in talks ...