Looking deeper at the CNN survey, 7 in 10 of those polled feel that a bailout would be unfair to the American taxpayer, and only 15% think they would be directly affected if the industry were to collapse. Additionally, 53% of the respondents don't think that government aid for the car industry will help the economy, regardless of whether they approve of it or not.
The GM survey found that a majority of Americans were in favor of government support for the automotive industry, with 55% of respondents agreeing the government should provide loans to the Detroit 3. According to the survey, only 30% actually opposed providing the loans.
The poll was conducted by Peter D. Hart Research Associates, and was funded by GM although the carmaker had no part in the "design, methodology, content or interpretation" of the poll's results. You can download a PDF file of the results by clicking here.
In November, USA Today released its own poll which said bailing out the carmakers was not high on the public's list of economic priorities, however the poll conducted by Peter D. Hart found that 69% of respondents thought that government support of the auto industry was "just as important" or "more important" than supporting financial institutions. The poll also found that only 9% of respondents thought it was unlikely that the U.S. would go into an economic depression if any of the Detroit 3 were to fold.
Interestingly, the majority of respondents were strong Democrats who drove Ford and Chevrolet vehicles, which may have skewed the results towards a more favorable outcome for support of the American automotive industry.
Regardless of where the American public, as portrayed by the various polls, stands on the issue, the matter will likely be decided soon, with the CEOs of the Detroit carmakers in Washington today to make their case for government assistance.
Reader Comments
Sun Nov 16 2008 5:41 AM
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Sun Nov 16 2008 9:31 AM
Roy says
Thanks, LikeSoup, very insightful. I mean really there are two schools of thought here:
a) the banks got a bailout - why shouldn't the car makers get one, too?
b) the unions are crippling our car industry - the best thing that could happen is for the whole thing to go belly-up, and a new more-streamlined efficient industry would eventually rise phoenix-like from the ashes. Think about it: there is still a market for cars and the US is on the forefront of electric technology (but not fuel cells or hydrogen). We'll still have great people and there'll still be a need for the good work they do.
I guess I've already shown my bias. I think a bailout won't be a bailout for the car industry. It will be a bailout for the bloated, complacent, idiotic unions who trust that they are too important to lose. Wrong, UAW, it's the people you represent who are too important to lose. Somewhere along the line you forgot that.
Sun Nov 16 2008 4:31 PM
Gus says
What is Likesoup's deal? Stop advertising your website, dude, it's totally cheesy.
I'm not sure what I think about the car bailout. It is an integral part of the United States' economy, but Roy is right, the unions need to go, and maybe the only way is to start over.
Sun Nov 16 2008 7:12 PM
mburleigh8 says
Im all for it if they agree to reverse course and build good quality cars with there primairy focus is on fuel economy- im talking about like 50mpg or better then work on performance second.
The tecnology we have these days can do both, they just have to put there minds to the task.
Mon Nov 17 2008 12:18 AM
www.mywheelsonwalls.com says
Just a thought, but if the big three were to fail we would go to having the big two, Panoz and Tesla.
Jokes aside I'd like to think that the big three have gotten their spanking and are now waking up and do smell the bacon, finally! I do however feel that their current management should be sent packing as I do not think they should reap the rewards a bailout would provide. If they had done what their doing now in the first place we would not be where we are today.
I find it amusing that Rick Wagoner feels he deserves to stay. His accomplishments, GM is number one in the worlds second largest car market, China. Also Russia is Europes largest car market and GM is number one in growth against all brands their, 44% growth is the number infact! and finally bringing the Volt to market. Now as big as these accomplishments are they are still not big enough to save GM. So just because you make great satelites does not mean the shit you've created back at the mother ship is enough to keep your neck above water.
I would grant the bailout, can management, and yes rid the carmakers of unions. The savings of dumping the unions would have Honda and Toyota nervous and crying into their saki glasses by morning!
On a selfish note and my tongue placed firmly in my cheek, currently being out of work going on seven months now, yes I do have a day job or did have, the last thing I would want is an additional 3 million people hunting for the same job I'm looking for. Besides, with a crash course and a very steep learning curve I could easily do Ricks job! http://www.linkedin.com/in/alisteroliver
Mon Nov 17 2008 3:26 PM
Roy says
Like you guys, if I thought all the companies had learned their lessons from the 70s, the 80s and today, I'd say save them. But Chrysler, the most recent recipient of both a government bailout and a Mercedes-Benz bailout is in the worst situation of all of them! Get rid of the unions and the top management and then we can talk bailout.
Of course, this is all rather selfish - a lot of suppliers depend on the big 3 but also supply other car makers. If we lose the big 3 we might transform the entire auto industry (Japanese AND European) for the worse.
Thu Dec 4 2008 3:37 PM
joshluvsamcars1 says
i think this is just awlful. they bailed out these big banks, no problem, but wen it comes to the big three, its a huge deal and everyone is against. save the banks let the automakers fail, thats sick. if they go down we all go down. the loss of the big three affects every state with an assembly plant and all of the companies they work with. i dont call it a bail out, i call it a loan.
Thu Dec 4 2008 3:40 PM
joshluvsamcars1 says
i also agree that the CEOs should go {excluding alan}. we also don't want foreigners to take over, everything is already made in china and everything is written in spanish. this is not america anymore
Fri Dec 5 2008 6:11 AM
54chevyman says
This is a once in a lifetime chance for Washington to streamline Detroit, and they will. The American Big Two are competitive and the longer issue here is what will they do with the surplus cash they will have in a few years. It should be written in the contract that they convert unused factories to renewable factories, then America can return to manufacturing greatness.
The only thing the US Auto companies are guilty of is following W's lead in feeding the American consumer's lust for Texas size vehicles. It all starts with the leadership in Washington, or lack there of. Mark this day as the day the US returned to greatness.
Fri Dec 5 2008 12:56 PM
joshluvsamcars1 says
i agree
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