Good News for Car Consumers!
I just read a very interesting article by Pulitzer prize winner, PAUL INGRASSIA in the wall street journal! Why interesting. He talks about Obama’s visit to Detroit as a ‘Summer Surprize’. Appropriate, I think! In America, all things are possible.” I agree, when it comes to wall street banks, big auto companies and squeezing out the car consumer, anything IS possible.
In the past, govt. has pulled out all the stops to help the ‘petrol’ giants by subsidizing gas guzzling cars! Look, where it got us. Instead of offering subsidies to work on alternative fuels, it is really the same old story in a brand new avatar. Same wine in a new ‘obamaized’ bottle!. Of course, he has no choice! The auto industry is a mess!!
Mess created by earlier politicians, who were funded and put in the senate with the money from the Petrol Giants and other corporates. So, what will a smart leader do! Accept this.
Obama told CBS’ “Sunday Morning” that his grade is incomplete because the economy has yet to fully rebound. (seattlepi.com)
Still, Obama cites accomplishments – preventing a complete collapse of the economy, saving the financial markets and the auto industry, and passing the health care law.
According to USA Today, “Just in time for President Obama’s visit to Detroit, Chrysler CEO Sergio Marchionne announced the automaker will add 900 jobs at its Sterling Heights, Mich., assembly plant where it builds the Dodge Avenger and Chrysler Sebring, both due to be refreshed substantially for the 2011 model year. Marchionne also announced that the plant, slated to close after 2012, will remain open after that “to support the company’s long-term product plan.”
July 30 Twitter page of Chrysler stated, just before the Presidents, visit, – that they will keep the plant open and the second shift going. Good news, right??? Yes, maybe.
So, what does this mean for the car dealers, America, American public, consumers who buy cars, and the ‘auto’ industry?
Mr.Ingrassia is of the opinion that it is indeed good news, however, is ‘tough love’. The rescue of car industry is unexpectedly successful. Wall street is about to go down. Govt. bails it out. Now, the banks that got bailed out will help bail out Detroit. Its a cycle.
So, definitely a good news for car consumer, car industry, chrysler, ford, and the federal government!
“These developments couldn’t come at a better time for Mr. Obama. His administration is heading into a tough midterm election. The government recently reduced its economic growth numbers for all of last year. Detroit’s nascent revival lets the president say he’s made tough economic decisions that are beginning to produce results.”
USA today reports that Obama is on his second trip to Michigan in a month, and this trip, the White House hopes, will highlight the progress Chrysler and General Motors have made (and jobs created) since their government-supported bankruptcies and rebirths last year. Obama landed at the Detroit airport around 11 a.m., and is heading to Chrysler’s Jefferson North plant in Detroit and then to General Motor’s plant in Hamtramck, Mich.
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