Congress Approves $25 Billion in Loans for Detroit

October 27, 2008
Filed under Trailer News

Bookmark and Share

Following House approval, the U.S. Senate passed a $25 billion loan program for the U.S.
auto industry. The downturn in the economy, tight loans and high fuel prices have left the
manufacturers without sufficient resources to design new high-mileage vehicles. Automakers
will be required to use the money to develop vehicles that are more than 25% fuel efficient
than the average models in their categories.

Print Friendly

Related Content

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!





Get a FREE issue of Trailer Life Magazine

Sign up for your trial subscription and you'll receive a FREE issue. If you like Trailer Life, pay just $17.97 for 11 more issues (12 in all). Otherwise, write "cancel" on the invoice, return it and owe nothing.