The White House has credited President Obama’s push for the $14 billion auto bailout for reviving the industry. “At the beginning of his administration, President Obama made the very tough and unpopular decision to restructure GM and Chrysler — a decision that saved over a million American jobs and revitalized an entire American industry,” a White House official told Politico’s Ben White.
There are, however, many other factors at play, including loosening credit to consumers. Automakers and lenders, for example, “are rushing to offer car loans to subprime borrowers for the first time since the recession,” DailyFinance explained last December. That’s a new development that the Obama administration may be less excited to tout.