AAM’s Scott Paul appeared on Fox News yesterday to discuss a projected bailout of the U.S. auto industry.

The New York Times quoted Robert L. Nardelli, the chairman of Chrysler, as saying that “Without immediate bridge financing support, Chrysler’s liquidity could fall below the level necessary to sustain operations.” 

Ironically, the rough recession that the U.S. has entered means that thousands of imported autos are now simply sitting on the docks, waiting to reach not-very-busy car showrooms. 

Sadly, Chinese automakers are feeling the strain, too, and are now seeking a bailout from Beijing.

Tight times all around.

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This entry was posted on Wednesday, November 19th, 2008 at 8:37 pm and is filed under AAM, Manufacturing in the U.S.. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.