Woman at the Wheel - 2008 Rescession
Valencia Mohammed €" WI Contributing Writer | 12/30/2008, 12:17 p.m.
2008 Vehicles Caught-Up in the Madness of a Recession
It was a rough year for the American automotive industry; one of the few bastions left in North America where Americans still work on assembly lines. With most of the auto world controlled by foreign manufacturers, the American market has finally been brought to its knees. Not only did foreign manufacturers build vehicles in foreign countries, they produce well-built foreign cars on American soil with cheaper labor. American manufacturers also bought many auto parts from foreign companies.
Unable to compete with foreign markets, the Big Three - Chrysler, Ford and General Motors cried out for federal assistance to the tune of $25 billion to shore up their hurting companies. In addition, another $25 billion is available to retool their factories, build €greener€ and more fuel-efficient vehicles.
In one of the most heated debates of this century - millions of Americans face losing their jobs - some lawmakers on Capitol Hill believe taxpayers should not be forced to bailout a few failing companies that might have mismanaged funds and made wrong decisions. Others like, President-elect, Barack Obama, supports the bailout, provided there are clearly defined parameters for its use and close monitoring.
Now the American public is faced with serious questions. Do we support the bail out of the American automotive manufacturers? Do we require American manufacturers to revamp, restructure the industry and hire new employees for less? Or do we let the American industry die? It is in our hands.
Caught in the middle are dozens of American and foreign-made vehicles, some of which are the best the industries have made in years. Many will go unnoticed. Many consumers will miss out on great deals. We are providing a glance of the vehicles in case the economy gets better, more Americans can find work and we are able to purchase the car of our dreams.