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White House: The Auto Industry is Thriving. Give US Credit!

Thursday, July 29, 2010 - 06:30 PM

Graphic: White House

This in from the White House today.    As the Takeaway reported last week, the auto industry, near death just a little over a year ago, is on the upswing.     Now, as the White House struggles to argue there IS indeed, an economic recovery -- the President travels to Detroit Friday     -- Andrea Bernstein, Transportation Nation

THE WHITE HOUSE

Office of the Press Secretary

______________________________________________________________________________

FOR IMMEDIATE RELEASE:

July 29, 2010

REPORT: Rebuilding the American Auto Industry

WASHINGTON – The statement below was posted today on http://www.whitehouse.gov/blog.

The American Auto Industry: A Comeback Story

Posted by Ron Bloom and Ed Montgomery on July 29, 2010 at 1:31 PM EDT

Over the next week, the President will travel to Detroit and Chicago where he will meet with auto workers and tour plants of each of the big three auto makers.  His trips offer an opportunity to take stock of where the industry stands this summer.

A little more than one year ago, the entire industry was on the edge of failure.  Plants were being closed, jobs were being lost, and America’s future role as a leading producer of vehicles in the global marketplace was in question. We’re now starting to see real signs of recovery. 

While there is still a long way to go, the progress to date is far beyond what most observers thought possible a year ago. The industry is creating jobs and American auto companies are addressing past failures, restoring financial discipline and returning to profitability.  Today, the White House released a new report cataloguing some of these early signs of success.

•                    Read the report.

In addition to stabilizing the industry and addressing the hardship faced by communities that lost auto plants and the jobs they provided, the Administration has been focused on making long-term investments across the country that will make the U.S. a home base for the design and production of the next generation of innovative vehicle technologies.  This new interactive map shows where these key investments have been made and the types of projects that will ensure the vehicles of the future are made in America.

•                    View the interactive map.

Ron Bloom is Senior Advisor to Treasury Secretary Geithner and Senior Counselor for Manufacturing Policy
Ed Montgomery is Executive Director of the White House Council on Auto Communities and Workers

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