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On one hand, it seems reasonable that if demand isn’t sufficient to support the industry, the industry should change. Unfortunately, the effect of an automotive industry collapse would be catastrophic for the entire country. Even if just one of the Big Three goes under, direct job losses alone would be monumental.
Many of the ceramic and related industries rely heavily on the automotive market, directly or indirectly. Whether it’s glass, electronics or refractories (fewer cars means less steel), we need a strong automotive industry in many of our manufacturing sectors.
So what do you think? Is a bailout plan for the automotive industry a prudent strategy? Please share your views by posting a comment below.