F&I Management & Training

Barack Obama's victory in the American presidential election has been strongly endorsed by the struggling US auto industry.

Obama has promised to help the Detroit "big three", Ford, General Motors and Chrysler, by doubling a recently approved loan programme that will devote $50bn (£31.6bn) to helping the industry develop more fuel-efficient cars.

The American United Auto Workers union, which has backed Obama throughout his campaign, said it welcomed Obama's presidential victory.

"As our retirement savings plummet and we struggle to pay our bills, UAW members and our families are deeply concerned about where our country is headed," said UAW president Ron Gettelfinger.

"Barack Obama understands the squeeze on the middle class; he has proposed a tax cut for 95 percent of working families.

"Obama's economic plan will turn around the wrong-headed policies that have pushed our country to the brink of disaster."

DATED: 06.11.08

FEED: MT