News & Resources

Obama's outgoing 'Car Czar': Industry recovering ahead of schedule

Sep 09, 2011 Brian Bradley

Ron Bloom, who oversaw the auto industry under the Obama Administration, said in a recent interview that the government had taken the right steps when it injected General Motors and Chrysler with funds during a time of financial turmoil. Speaking to the Detroit News, Bloom, who is leaving the post this week, also defended the administration's aim to double fuel efficiency standards by 2025. He said that both firms were in the process of getting their auto industry financing back into gear. "I think the companies are ahead of where we expected them to be in both cases," Bloom said in an interview with newspaper. "The results are better than we had forecast. … The companies have done a better job on the cost side, on the product side, and on the pricing side. That's all good." In other auto industry financing news, GM announced it would be selling the 2012 Buick Verano at under $25,000. Standard features in the car include high resolution LED radios, 10 airbags, remote start, steering wheel radio controls and other options.