President Obama’s Plan for Clean Cars

President Obama has outlined his plans
for the struggling auto industry. They
include restructuring GM and Chrysler
as well as help for auto workers and
communities hurt by slumping car and truck sales. Lester Graham reports lost in the details was the President’s bigger plan:

Transcript

President Obama has outlined his plans
for the struggling auto industry. They
include restructuring GM and Chrysler
as well as help for auto workers and
communities hurt by slumping car and truck sales. Lester Graham reports lost in the details was the President’s bigger plan:

In one sentence President Obama summed up his vision for the U.S. auto industry.

“I am absolutely committed to working with Congress and the auto companies to meet one goal: the United States of America will lead the world in building the next generation of clean cars.”

Some analysts say the market should decide whether consumers want fuel-efficient, clean cars. They point to headlines noting hybrid car sales fell off a cliff since gasoline prices went down.

But J.D. Power and Associates’ Michael Omotoso says yeah, hybrid sales are down – but not as much as everything else.

“Hybrid sales are actually doing well compared to overall sales.”

Hybrid sales in February were down 29% from last year, but overall light vehicle sales fell 40%.

Omotoso says hybrids are still selling because people expect gas prices will go up as the economy recovers.

For The Environment Report, I’m Lester Graham.

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