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Auto industry expert: Government must act quickly to prevent collapse of suppliers on Thu Mar 12, 2009 4:06 pm
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North America’s automotive parts supply base faces an imminent collapse over the next 30 to 90 days unless the federal government provides at least $10 billion in immediate funding, Grant Thornton LLP partner Laura Marcero said today.
If suppliers go out of business, automotive assembly plants could be forced to shut down, bringing the industry to a halt, Marcero said.
“Washington has been focused on the crisis with GM and Chrysler, but …we have an immediate supply base issue that really pre-empts what is going to happen with GM and Chrysler,” Marcero said following a speech to the Automotive Press Association in Detroit.
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If suppliers go out of business, automotive assembly plants could be forced to shut down, bringing the industry to a halt, Marcero said.
“Washington has been focused on the crisis with GM and Chrysler, but …we have an immediate supply base issue that really pre-empts what is going to happen with GM and Chrysler,” Marcero said following a speech to the Automotive Press Association in Detroit.
Read More
