Obama Gives U.S. Auto Industry as Example of Success

In an interview that was recorded last Wednesday on the television show "The View," President Obama said that the United States auto industry was rebounding and that taxpayers could expect to regain all of their investment into the auto industry. Pittsburgh Honda Dealers were not as affected by the recession sine Honda did well in 2009 and remained one of the top automakers in the world. In 2009, domestic automakers suffered massive declines in sales due to the recession and stock market drop of 2008. Auto sales dropped and in the second and third quarter of 2009 both Chrysler and GM had to file for bankruptcy protection. However, Ford was the only United States automaker to not declare bankruptcy last year, and the latest Ford models can be purchased at a local NC Ford Dealer.

Obama said that the automotive industry was an example of how progress has happened in some sectors in the United States, although the unemployment rate is at about 10 percent at the moment. VW continues to sell large quantities of its vehicle models throughout the world and the
company was not as hard hit as some United States automakers.

Obama said that the auto industry as a whole was doing better than expected and it was a good example of how the measures taken in early 2009 were in fact effective after Obama took office. America is still in the process of rebounding from the worst recession since 1930. Elizabeth Hasselbeck gave Obama some tough grilling on the show, but Obama responded with the example of the auto industry and how it has hired 50,000 workers since the measures and "bailouts" were given.

If the auto industry continues to progress, it really does mean that the economy will be better, and the fact that President Obama gave the auto industry as an example of how the economy is rebounding goes to show how important and crucial it is from U.S. automakers to continue to do well in the next few years.