Auto industry hopes to secure $50 billion in govt. loans
- NECN
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Auto industry hopes to secure $50 billion in govt. loans
WASHINGTON (AP) - Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles. With Congress returning this coming week from its summer break, the industry plans an aggressive lobbying campaign for the low-interest loans. The situation is growing dire after months of tumbling sales, high gasoline prices and consumers' abandoning profitable trucks and sport utility vehicles. read more
NECN | September 7, 2008
