Auto industry not showing off this year
With most of the U.S. auto industry relying on a government bailout to survive, now's not the best time for the Detroit Auto Show to be glitzing up. Jeremy Hobson reports what the show will be focusing on instead.
The new General Motors Chevy Cruze makes its entrance at the GM exhibit at the Detroit International Auto Show (Bill Pugliano/Getty Images)
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Bob Moon: Detroit's annual auto show is underway this week, and with most of the U.S. car industry getting a government bailout -- I say "most" since Ford didn't take any bailout money -- the industry's big showcase is a little scaled back this year. Marketplace's Jeremy Hobson reports.
Jeremy Hobson: The Detroit Auto Show prides itself on being the first major auto show of the year. It's a chance for the industry to unveil new vehicles and create buzz.
Michelle Krebs of EdmundsAutoObserver.com has been attending the show for decades. She says there won't be much glitz or glamour this year.
Michelle Krebs: The focus of this show will be on what's the future of the industry, what does the year look like. A very serious business kind of show.
But, she says, it's a show that has to take place if the industry wants any chance of getting back into the black.
Aaron Bragman is a research analyst with IHS Global Insight.
Aaron Bragman: The auto show's purpose is to try and get people interested in buying cars. All the government loans and bailouts in the world aren't going to help the industry unless they can get people back into showrooms.
In an unfortunate bit of bad timing for automakers, this year's show will feature a number of fuel-efficient vehicles -- at a time when gas prices are less than half what they were just six months ago.
I'm Jeremy Hobson for Marketplace.
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