Problems for Automakers Could Hurt New York
New York, NY —
Representatives for auto workers and car dealers in New York State say if Congress doesn't approve a rescue package for the Big Three automakers, hundreds of the state's dealers and suppliers could go out of business, and New York's municipal governments could lose millions of dollars in tax revenue.
REPORTER: New York City could also be directly impacted through the loss of advertising dollars. Duane Paddock is president of the National GM Dealers Council.
PADDOCK: We spend over $100 million in advertising. this is an example of how far reaching the effect that dealers have in an overall economy in the state of new york.
REPORTER: New York State has more than 1100 car dealers, which employ nearly 50,000 people.
They generate $34 billion in sales each year. That's the same amount that General Motors, Chrysler, and Ford are requesting from Congress to stay afloat.
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