|
|
Article: Auto parts makers see chaos without government aid
- Article from:
- AP Online
- Article date:
- February 6, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Many of the nation's auto parts suppliers are edging close to running out of money, with trade associations saying government loans are needed to keep the U.S. auto industry from falling into chaos.
Two trade groups, the Original Equipment Suppliers Association and the Motor & Equipment Manufacturers Association, are talking with the Treasury Department about getting up to $25.5 billion in government aid. The bailout would prevent a shortage of critical parts that could halt production of some key models, they claim.
The troubles, sparked by production cuts at nearly all North American automaker factories, may be the next crisis the Obama administration will need to ...