The Resurgence of the American Automotive Industry, June 2011: “When President Obama took office, the American automobile industry was on the brink of collapse. The President, as part of a larger effort to combat an historic economic crisis, made a difficult decision to provide support to General Motors (GM) and Chrysler on the condition that they, and all of their stakeholders, make the sacrifices necessary to fundamentally restructure their businesses and commit to tough-minded plans to return to viability. The President’s decision to save GM and Chrysler was about more than those two companies. It was about standing behind the countless workers, communities, and businesses – large and small – that depend on the automotive industry. Two years later, the American auto industry is mounting a comeback. General Motors is expanding production and adding jobs, while Chrysler recently repaid its outstanding loans to the U.S. Treasury – six years ahead of schedule. Since GM and Chrysler emerged from bankruptcy, the auto industry has created 115,000 jobs, its strongest period of job growth since the late 1990s. GM, Ford and Chrysler have all returned to profitability, and in 2010, the “Detroit three” gained market share for the first time since 1995.”