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Obama praises auto industry's recovery

Saturday, January 09, 2016 - 02:04

In his weekly address, U.S. President Barack Obama praises U.S. automakers ahead of a trip to the Detroit Auto Show. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) U.S. President Barack Obama praised U.S. automakers for strong industry results in his weekly address on Saturday (January 9). "We said the auto industry would have to truly change, not just pretend that it did. We got labor and management to settle their differences. We got the industry to retool and restructure. Everyone had some skin in the game," said Obama in his address. "Our plan wasn't popular. Critics said it was a 'road to socialism', or a 'disaster' waiting to happen. But I'd make that bet again any day of the week. Because today, the American auto industry is back. Since our plan went into effect, our automakers have added more than 640,000 new jobs." Obama plans to visit the Detroit Auto show later this month. Automakers on Tuesday set a new U.S. sales record for 2015 even as December sales fell short of expectations, and most forecasters said sales should rise to another record this year. In 2015, U.S. sales hit a record of 17.47 million vehicles, breaking the mark of 17.41 million vehicles in 2000, according to Autodata Corp. Low gasoline prices, easy credit and moderate economic growth boosted the industry. The industry has steadily recovered since 2009, when sales hit 10.4 million vehicles, the lowest level since World War Two, adjusted for population.

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Obama praises auto industry's recovery

Saturday, January 09, 2016 - 02:04