Obama hopes for `leaner, meaner' GM and Chrysler | business | Hindustan Times
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Obama hopes for `leaner, meaner' GM and Chrysler

business Updated: May 23, 2009 19:52 IST

President Barack Obama says he hopes both GM and Chrysler emerge from their restructuring as "leaner, meaner" companies that are more competitive.

He says their goal should be to have product lines that appeal to consumers and that means fuel-efficient and high-performance vehicles that Americans are hungry for.

Obama tells C-SPAN in an interview airing on Saturday that US automakers will have a substantial market available to them if they make good decisions now. The president thinks GM and Chrysler can do that and end up profitable and thriving.

He says allowing GM or Chrysler to just liquidate would have dragged the United States deeper into recession or even a depression.