Washington, DC - Congressman John D. Dingell (D-MI15) made the following comments regarding the release of detailed business plans presented for Congressional review by the American automakers. The business plans detail exactly how the automakers will restructure their operations and use $25 billion in bridge loans that Congress may authorize as early as next week.

“The release today of detailed business plans from the domestic auto manufacturers will help assure the American people that the federal loans being requested by the Detroit 3 will be repaid.  The newly released auto sales numbers showing both foreign and domestic brands with sales down 30 percent or more prove that these are extraordinary economic times.  Other nations in Asia and Europe are providing assistance to their own struggling automakers so that they can survive the current downturn because they understand how important a strong manufacturing industry is.  I am hopeful that after reviewing these plans and listening to the testimony of the CEO’s this week, Congress will provide support for our manufacturing sector and the millions of Americans whose jobs depend on the auto industry.” 

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