The Continuing Saga of The Auto Industry Beggars

Submitted by Abel Rodriguez

Sunday, 1 February 2009

First the three American auto giants asked for a U.S. bailout. Now it seems that the auto parts suppliers want a share of the bailout pie as well.

An expert on automotive economics warns that what we are seeing is step two, of a three-step auto industry cycle process. The auto makers are step 1. The auto parts suppliers are step 2. And step 3, is going to be the auto mechanics.

So he predicts that within three weeks, the auto mechanics will be sticking out their 'Hey I want some bailout money too' hand.

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