Auto Suppliers Now Asking For $20.5 Billion In U.S. Aid To Survive Downturn

US auto parts suppliers are asking for up to $20.5 billion in federal aid to survive the worst industry downturn in decades, the Automotive News reported on Wednesday.

Suppliers are asking for $10 billion in direct loans from the U.S. Treasury Department, the magazine said, citing Neil De Koker, president of the Original Equipment Suppliers Association.

The suppliers made the request on February 1 through the Motor & Equipment Manufacturers Association, according to the report.

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Spectator - 2/5/2009 4:12:01 PM

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...Meanwhile my measly 2.5 billion dollar lemonade stand bailout is slow in coming. Geeze Congress, why dont you start prioritizing a little more. Without my lemonade stand the entire citrus industry could collapse, which in turn would eradicate half of the migrant worker jobs in the US... which follows that the country of Mexico would lose all of its income...thereby forcing it to close all of its beaches...unfotunaly leading to Cancun returning to a barren desert...where we come accross the dreadful circumstance that "spring break" will be canceled...leading to NO inebriated college students making "bad decisions"...meaning the 'Girls Gone Wild' franchise will collapse...underlining the rise of a whole bunch of free advertising space available on cable tv...that gives china the idea to buy cheap advertising space for their vehicles...where their cars gain a marketing advantage over domestics...enabling them to out sell the domestics 5 to 1...forcing the big 3 to shut down production...(follow me here)...ending up in the collapse of the american market and total depression in the US.

So for the love of america, mom and apple pie...please buy a glass of lemonade.

veyron1001 - 2/5/2009 4:37:49 PM

-1 Boost

Hey Govt do I get a bailout if I get an F on a Test?

holmstar - 2/5/2009 5:16:37 PM

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The automakers can't survive without parts makers, so since they already bailed-out the auto-makers this is just the next [il]logical step. My bet: It'll go through.

thstone - 2/5/2009 5:56:51 PM

+1 Boost

Selling fewer cars means needing fewer car parts - doesn't it? Its not like there is only one company who makes any particular car part or line of parts. There are dozens who compete against each other to design/mfg different parts for different brands. I can't see any unique capability that will be lost from an economic contraction in the automotive supplier sector.