Continuing Signs of Strength for America’s Auto Industry

by Secretary Hilda Solis on May 25, 2011 · 2 comments

After years of uncertainty, the past few weeks have held positive news for the American automotive industry. All three American automotive manufacturers are operating at a profit. Recently, GM announced it would be investing $2 billion in 17 facilities nationwide, adding jobs and increasing security in these affected communities. And just yesterday, Chrysler announced it would be repaying $5.8 billion to the U.S. Department of the Treasury.

The latest announcement from Chrysler comes six years ahead of schedule and just two years after emerging from bankruptcy. It marks a significant milestone for the turnaround of not just the company, but also the countless communities and families who rely on the American auto industry.

 Supporting the American auto industry required making some tough decisions, but President Obama was not willing to walk away from the workers at Chrysler and the communities that rely on this iconic American company. The President called on Chrysler to take difficult steps necessary to become more competitive, and in return pledged that America would stand by them. They stayed true to their word, and so did the President.

 While there is more work to be done, we’re starting to see stronger sales, plants adding shifts to keep up with rising demand, and workers being recalled in communities across the country. These signs of strength are a testament to the work of this administration and to the resolve and determination of American workers.

 As co-chair of the White House Council on Automotive Communities and Workers, I am proud of the commitments this administration made to the automotive industry. American automotive manufacturers and the communities they call home are integral to the American way of life. Chrysler repaying their debt to the American taxpayers proves that our faith in this industry, these communities, and these workers was a worthwhile investment.

{ 2 comments… read them below or add one }

1 Jess May 25, 2011 at 1:24 pm

The U.S. automotive industry should never have been “bailed out” in the first place. If the market had been left alone, the failing auto makers would have been acquired and restructured by other auto makers. Those that claim we need “American” automakers, take a look around. There is no such think as a car made in america or elsewhere. Today, cars are assembled in various locations, from parts that are sourced from all over the world. All that happened with this bailout is the delaying of the inevitable and the further production of cars the market does not want in the long run.

2 Mesa Auto August 15, 2011 at 4:21 pm

Well seams to be a successful a ligation. America’s auto industry sure does need to see gains, and such news is rewarding considering the growth and profit margins should stay grounded throughout the US.

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