Auto Industry Undergoes Big Changes
By: Amy Montalvo
Updated: March 30, 2009
The federal government is taking the keys from Chrysler and General Motors and demanding some big changes at those struggling companies. President Obama gave Chrysler and GM failing grades for their turn-around attempts so far. He wants a new restructuring plan within the next two month, but the president says he will not let the auto industry fail.
Annette Sykora owns two South Plains car dealerships and is on the board of the National Auto Dealers Association. She says the president's announcement was a huge encouragement for the auto industry. "Change has to be good, the president has said he's very supportive of the industry, he's not going to let the industry fail, so I think we can take that as a real vote of confidence in the American automotive industry."
