REBUILDING THE AMERICAN AUTO INDUSTRY
"When President Obama took office, the American auto industry was on the brink of collapse. The President made a difficult decision to provide support to General Motors (GM) and Chrysler on the condition that all stakeholders make the sacrifices necessary to fundamentally restructure these companies and put them on a path to viability. This summer, there are growing signs of a revival in the American auto industry: plants are adding shifts and hiring workers; manufacturers are returning to profitability; the auto supply industry has stabilized; and exports of U.S. vehicles are increasing. In addition, the Administration has made an historic set of investments designed to
position America as a leader in the global race to produce the advanced vehicles of the 21st century. Advanced technology vehicles are appearing in showrooms, new factories are breaking ground to manufacture and assemble electric vehicles, and innovations once at risk of being scrapped, are now being designed and made in America..."