New Survey: U.S. Consumers Support Loans for Automakers
WASHINGTON, Nov. 14, 2008 – A majority of Americans believe the U.S. government should provide loans to American automakers, according to a poll released today.
Conducted by Peter D. Hart Research Associates, the results of the survey stated that 55% of Americans support the idea of the federal government providing loans to American automakers. 30% of respondents oppose.
“Americans’ broad support for providing government assistance to the auto industry is built mainly on a genuine fear that a failed GM, Ford, and Chrysler could lead to a depression,” said Peter Hart, chairman of the national polling firm.
According to Hart, 60% of the respondents fear that a failure of GM, Ford, and Chrysler, in the near-term, could plunge the country into an economic depression. 79% of those polled feel that the auto industry is very or extremely important to the U.S. economy.
“The public sees in stark terms the harm it would do to the country if the domestic auto industry no longer had the resources to produce vehicles,” Hart said. “It is recognition that it is the country’s central manufacturing base.”
The poll was conducted by telephone among a cross section of 804 American adults on Nov. 11 and 12, 2008. The data’s margin of error is ±3.5 percentage points.
Disclosure: The polling organization of Peter D. Hart Research Associates was commissioned by General Motors to conduct an independent survey. GM had no input or review of the design, methodology, content or interpretation of the survey.
