Saturday, Dec. 6, 2008 | 2:05 a.m.
My wife and I own two cars, a Nissan and a Honda. U.S. automakers had almost the whole U.S. market at one time. They lost that customer loyalty because they made lousy vehicles for a long period and automakers in Japan and Europe made better cars.
It took years to get to the point where many Americans preferred foreign nameplates to Ford, General Motors and Chrysler. The U.S. automakers now make quality vehicles for the most part but many Americans still prefer foreign brands.
If anyone thinks that $34 billion is going to reverse what happened over many years, especially with foreign automakers fighting tooth and nail to keep their market share, he is dreaming. I don’t know how to fix the U.S. auto industry, but I am confident in saying that even with $100 billion, what happened over 25 years is not going to be reversed in even five years.
The $34 billion is just the beginning. Much more will be requested ... and it will not be long before the additional requests start.