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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 has occupied an almost mythical place in the American mind. From the time Henry Ford created the first Model T in 1908 and the first moving assembly line, cars were suddenly affordable for the middle class. That transformed not just transportation but the urban — and suburban — landscape.
On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."
29 mar 2019 · Ten years after the US government saved automakers with a massive bailout, the industry is healthier than it has ever been. But automakers are facing a bigger challenge today than they did...
19 gru 2018 · In all, the federal government extended nearly $81 billion to bail out the auto industry in a rescue effort that began under Bush’s watch and ended in December 2014, well into Obama’s second...
29 mar 2019 · President Barack Obama appointed the Presidential Task Force on the Auto Industry, which demanded far-reaching new business plans from GM and Chrysler. When those proposals proved too...
19 wrz 2018 · Ten years after two auto manufacturers, GM and Chrysler, received an $80 billion government bailout, economists and business analysts find the subject still ripe for debating economic crises and the free market.
