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Obama is saying that the auto industry represents the spirit of America, so they're not going to let it just disappear. So basically, this means that Japanese and European automakers who will be competing with GM will really be competing with the U.S. government from now.

Wednesday 01st April, 07:05 AM JST

Fumiyuki Nakanishi, a chief equity strategist at SMBC Friend Securities, referring to turmoil in the U.S. auto industry and how that will affect Japanese automakers. (AP)

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10 Comments

  • jessssicaaa at 10:45 AM JST - 1st April

    represents the spirit of America,

    Spirit of america.. ha, how many times has that line been used.. stupid americans. ;]

  • timtak at 11:08 AM JST - 1st April

    Perhaps the Americans should follow the British into motor manufacture-less-ness?

  • telecasterplayer at 12:22 PM JST - 1st April

    Japan has gotten away with flagrant protectionism for a long time. Now it's America's turn to protect its auto industry.

  • presto345 at 12:59 PM JST - 1st April

    He shouldn't have said something he doesn't believe in. The auto industry has been in trouble for decades and unable and unwilling to change, read the writing on the wall. Why could it succeed now?

  • techall at 01:04 PM JST - 1st April

    Dear GM,

    Don't take this crap, pay him whatever he wants but hire Carlos Gosen.

  • techall at 01:10 PM JST - 1st April

    Just think, as late a October of last year, Nissan was looking to buy 20% of Chrysler stock. Now they can have it for free!!!

  • presto345 at 01:15 PM JST - 1st April

    Japan has gotten away with flagrant protectionism for a long time. Now it's America's turn to protect its auto industry.

    I was waiting for someone to bring this up. Unfortunately there are always two sides to the coin. First, all trading countries have for centuries practiced some kind of protectionism. The US included. Second, Japan exported its superior automobiles to the people of the US who wanted these cars, as Detroit could not satisfy these buyers by a long stretch. Try to refute that. Then think about how the dollar was overvalued for far too long, which gave Japan's export a nice inroad into the US market. Japan was not keeping import cars out of its markets. The conditions the manufacturers set were just not reasonable/feasible. In addition their products were simply not suited to environmental conditions in Japan and the consumer did not want these oversized, overpowered, unreliable cars.

  • donpablo at 01:46 PM JST - 1st April

    ethnocentric claptrap. All countries have protectionist tendencies, why should the USA be any different ? count the number of US cars on the streets of Seoul, Tokyo or Paris and tell me that euro and asian govt policies don't have a direct affect on and connection to their auto industry. Lord help Japan and Korea if the US consumer changes their purchase decisions to mimic those in eastern asia.

  • mael at 03:34 PM JST - 1st April

    I was amused when I read words to the effect of European & Asian car manufacturers competing not with US car makers but the US government. How are they competitive? Compete with typical US graft, corruption, incompetence, shoddy workmanship and lies?

    What was that 'Russian' car? That two-stroke 600 CC twin-banger? The Trabant! Let's wait for that US government Trabant. Of course the government car industry will continue to turn out limos for their minions and vehicles for their military.

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