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Effects of the 2008–10 automotive industry crisis on the United States
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Effects of the 2008–10 automotive industry crisis on the United States : ウィキペディア英語版
Effects of the 2008–10 automotive industry crisis on the United States

(詳細はrecession adversely affected the economy of the United States. A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009.
Following dramatic drops in automobile sales throughout 2008, two of the "Big Three" U.S. automakers – General Motors (GM), and Chrysler – requested emergency loans in order to address impending cash shortages. By April 2009, the situation had worsened such that both GM and Chrysler were faced with imminent bankruptcy and liquidation. With the intent to prevent massive job losses and destabilizing damage to the entire manufacturing sector, the U.S. and Canadian governments provided unprecedented financial bailout ($85 billion) support to allow the companies to restructure and jettison legacy debt via Chapter 11 bankruptcy. Both companies separately filed for this protection by June 1.
General Motors emerged from bankruptcy as a new company majority owned by the United States Treasury, and Chrysler emerged owned primarily by the United Auto Workers union and by Italian automaker Fiat S.p.A.. Both companies terminated agreements with hundreds of their dealerships and GM discontinued several of its brands as part of bankruptcy proceedings. Ford Motor Company was able to survive without entering bankruptcy partly due to a large line of credit which it obtained in 2007.
The U.S. automakers were more heavily affected by the crisis than their foreign counterparts, such as Toyota. Following the 2000s energy crisis, the U.S. automakers failed to produce more fuel-efficient vehicles as opposed to the high-profit sport utility vehicles that were popular in the late 1990s and early 2000s which led to excess inventory and undesirable product. Since the automotive crisis abated, all three American automakers have increased sales of vehicles and have posted a profit.
As of 2012, the industry has recovered to some extent. GM had 2011 sales of more than 9 million vehicles, more than Toyota.〔(American Auto Industry A Highlight in Obama State-of-the-Union by Paul A. Eisenstein ) January 25, 2012〕 According to a May 2011 report by the White House National Economic Council, however, the US government may have to write off about $14 billion of its $80 billion loan.〔According a May 2011 report by the White House National Economic Council (G.M. Still Hopeful of Fully Paying Back the Government ) By NICK BUNKLEY| June 7, 2011〕
By 2012, polls from Pew Research Center and Quinnipiac University Polling Institute show that the American public now believes that the bailouts have been helpful for the American economy.
==Background==
Some note that the crisis occurred mainly as a result of business of the Big Three U.S. automakers which had limited access to offshore production as opposed to their Asian counterparts. Analysts point out that Asian companies that manufacture automobiles mostly Asia but also in the U.S. were not experiencing similar problems. They were able to produce compact automobiles in the Pacific Rim area for less cost (in Dollars).〔(If You Like Michigan's Economy, You'll Love Obama's ), Wall St. Journal, September 13, 2008〕〔(Detroit: Same Old, Same Old ), National Review, November 16, 2008〕 A December 22, 2008 New York Times article stated, "For the most part, the so-called auto transplants – foreign-owned car companies with major operations in the United States – have deep pockets and ample credit, and they are not facing potential bankruptcy like General Motors and Chrysler."〔(Foreign Automakers in the U.S. Cut Back ), The New York Times, December 22, 2008〕 Much of the criticism centered on structural differences between the Big Three and the "transplants" (foreign companies manufacturing in U.S.) that result in major cost differentials.〔(【引用サイトリンク】title=Sorkin & Cole Debate )
The U.S. Big Three were first weakened by the substantially more expensive automobile fuels〔(Uncertainty in U.S. auto industry puts pressure on suppliers. International Herald Tribune. ) September 19, 2008. Retrieved November 20, 2008.〕 linked to the 2003–2008 oil crisis which, in particular, caused customers to turn away from large sport utility vehicles (SUVs) and pickup trucks,〔(Gas prices put Detroit Big Three in crisis mode. Associated Press ) June 1, 2008. Retrieved November 20, 2008.〕 the main market of the American "Big Three" (General Motors, Ford, and Chrysler). The U.S. automakers also suffered from considerably higher labor costs than their non-unionized counterparts, including salaries, benefits, healthcare, and pensions.〔 〕 In return for labor peace, management granted concessions to its unions that resulted in uncompetitive cost structures and significant legacy costs.〔 〕 Further, the volume of cars sold in the U.S. was significantly tied to home equity lines of credit, with 24% of sales financed this way in 2006. When the availability of these loans suddenly dried up in 2008 due to the subprime mortgage crisis, vehicle sales declined dramatically, from 17 million in 2006 to 10.6 million in 2009.
In 2006, ''Consumer Reports'' reported that all 10 of the cars that it considered to be the 10 best were built by Japanese companies.〔(Autos: Consumer Reports Top Car Picks All Japanese ), ABC News, March 2, 2006.〕 While Michigan lost 83,000 Big Three auto manufacturing jobs between 1993 and 2008, more than 91,000 new auto manufacturing jobs were created in Alabama, Mississippi, Tennessee, Kentucky, Georgia, North Carolina, South Carolina, Virginia and Texas during that same time period.〔(If You Like Michigan's Economy, You'll Love Obama's ), Wall St. Journal, September 13, 2008.〕 Note that 83,000 jobs were lost in Michigan and there is not a reference to automotive jobs lost in other states. Center for Automotive Research estimated that for every job created by a foreign transplant, 6.1 jobs were lost by the Big Three.
The support given to General Motors and Chrysler by the Obama Administration was initially unpopular, with a March 2009 ''CNN''/Opinion Research Corporation poll finding that only 37% of Americans approved of the actions. A June 2009 ''Wall Street Journal''/NBC News survey found 39% approval.
However, two polls taken three years after the event show that Americans did eventually support the auto bailout. An April 2012 poll by Quinnipiac University Polling Institute shows that 53% of American voters support the bailout, and 50% believe it has been a success.〔 A Pew Research Center poll from February 2012 shows that 56% of adults polled now believe that the government giving loans to General Motors and Chrysler was "good for the economy".〔

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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