The Death of the American Car Industry - Auto Bail Out Approved

Auditor #9 wrote:

Autobloggreen reporting on this today. Were the Yanks well bitten by the shocking high price of gas during the summer when they were paying up to half of what we pay here for our gazz (see second map below)

There is a graph below of the low tax take by Americans on their fuel. Maybe it's time they started thinking about raising that to pay for the GM bailouts.

Quote :

GM apologizes for "betraying" American consumers, focusing on gas guzzlers

GM's done it. The General has apologized to America in an ad today in Automotive News (and available all over the place, including after the jump). The stated self-flagellations are for:

* Vehicles that were "below industry standards"
* "Lackluster" designs
* Commitments to compensation plans that are now "unsustainable"
* Too many brands and dealers, and
* "We also biased our product mix toward pick-up trucks and SUVs."


That last one is quite an admission from the company that brought us the HUMMER, the Escalade, and the Yukon/Tahoe. GM's death list has got to be filling up fast. This apology wasn't issued to just clear the corporate conscience, but to explain why GM should get the huge bridge loan they're asking for from Congress (the $15 billion is just the start). As for what GM will do with the money - aside from things like actually being around to build the Chevy Volt - the ad says the company will "reduce U.S. dependence on imported oil" and "protect our environment." Read the whole thing after the break.

Turkey is an interesting one: an oil producing country where everyone uses buses. Highest oil tax on the planet.

We could use a few guys like this in the EU.