Obama’s U.S. Auto Industry Better Off Than Four Years Ago: Cars
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U.S. automakers would endorse four more years with profits like those this week. A second term for President Barack Obama, who made saving General Motors Co. a campaign pillar, hinges on whether voters give him the credit.
Four years ago, GM and Chrysler Group LLC’s soon-to-be bankrupt predecessors and Ford Motor Co., which ultimately survived without a bailout, were seeking U.S. government aid to pay their bills. This week, the strongest domestic auto market since 2007 helped GM and Ford beat Wall Street profit estimates and Chrysler’s third-quarter profit jump 80 percent.