Thanks, Obama: U.S. Auto Sales Hit Record High For Second Straight Year

[Jacob Boehme]

http://www.politicususa.com/2017/01/04/obama-u-s-auto-sales-hit-record-high-straight-year.html

2016 marks the seventh straight year of gains for an industry that was on the verge of collapse when Obama took office.

Thanks to President Obama’s efforts over the past eight years, U.S. automakers announced on Wednesday that 2016 sales of automobiles hit a record high, topping the previous record set in 2015.

Strong sales in the month of December pushed the total number of vehicles sold last year to 17.54 million, higher than the 17.4 million sold in 2015.

Not only did last year’s sales break the previous record, but it also marked the seventh straight year of gains for an industry that hasn’t just recovered, but is now booming. And let’s not forget: This industry – and the entire economy – was on the verge of collapse when Obama walked in the door in 2009.

U.S. auto sales hit a record in 2016; seventh straight year of gains for an industry that had to be bailed out in 2008/09

— West Wing Reports (@WestWingReport) January 4, 2017

While Obama’s move early in his presidency to save the auto industry was politically unpopular, it turned out to be the right one. It didn’t just save automakers; it prevented the loss of 1.5 million jobs and led to what has now been an unprecedented streak of growth for the industry.

As the Wall Street Journal noted on Wednesday, “President-elect Donald Trump’s administration will inherit a far healthier auto industry compared with what President Barack Obama encountered eight years ago. In 2009, auto sales were collapsing amid a wider financial crisis and the Obama administration spent considerable time crafting bailouts for Detroit car companies and figuring out how to goose sales.”

The administration’s strategy turned out to be a huge success, much to the disappointment of Republicans, and the Wall Street Journal reports that industry is expected to remain strong next year, even after Obama leaves office.

It’s only a matter of time before Donald Trump tries to take credit for this huge Obama success story.

[global1]

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