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 Auto Industry

This chart shows the sales of motor vehicles in the United States by month.

Program Purpose and Overview

Several efforts were initiated under TARP to address the condition of the U.S. auto industry during the financial crisis. The Automotive Industry Financing Program (AIFP) was launched in December 2008 to prevent the uncontrolled liquidation of Chrysler and General Motors (GM) and the collapse of the U.S. auto industry. The potential for such a disruption at that time posed a significant risk to financial market stability and threatened the overall economy. 
 
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Key Facts

  • The Automotive Industry Financiang Program (AIFP) was created to prevent the collapse of the U.S. auto industry, which would have posed a significant risk to financial market stability, threatened the overall economy, and resulted in the loss of one million U.S. jobs.
  • Treasury invested approximately $80 billion in the auto industry through its Automotive Industry Financing Program. As of July 31, 2012, it has recovered more than $40 billion.
  • In May 2011, Chrysler repaid its outstanding TARP loans six years ahead of schedule.  Chrysler returned more than $11.2 billion of $12.5 billion committed to Chrysler through principal repayments, interest, and cancelled commitments.
  • Treasury has fully exited its investment in Chrysler Group under TARP and to date has reduced its ownership stake in GM from 60.8 percent to 32.0 percent.

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Last Updated: 8/22/2012 12:39 PM