The American auto industry is teetering on collapse. Here in Detroit, the people are suffering the worst unemployment in the nation. And that's while the auto industry continues to limp along.
Detroit is responding in a number of ways. Ford Motor Company, which did not accept government bailout money, renegotiated contracts to become competitive with Japanese auto makers. Ford, GM and Chrysler are all coming out with new competing versions of their best muscle cars. Ford has developed a hybrid Mercury Milan that rivals anything the Japanese have to offer. Chevy is soon coming out with it's long-awaited Volt electric car.
GM is talking bankruptcy as an option, but Sam Rattner, who heads President Obama's automotive task force, doesn't feel bankruptcy is the best way to go. And in fact would rather see companies merge than declare bankruptcy.
Here to give us the best insight into the industry and its future on News Talk Online on Paltalk.com is Detroit Free Press auto critic Mark Phalen.