It must be said that there is fire in Detroit

They were three to travel to Washington, in the month of November 2008, to expose the State of their difficulties to members of Congress and beg for funds: Rick Wagoner, CEO of General Motors (GM), Bob Nardelli, counterpart of Chrysler, and Alan Mulally, Ford. A year later, only the last of them is still in his position. The only one who did not direct financial aid, while GM and Chrysler received massive support of $ 62 billion, to avoid disappearing body and property. If the crisis has affected the whole of the world automobile, the epicentre of the earthquake is located in Detroit, main town in Michigan, where the "big three" were stolen in chips.

Little time! Therefore, the hypothesis of a federal bailout becomes a forced solution. Started with the Bush administration, negotiations will continue with the Obama team, after the inauguration of the new US President in January. To stop its descent to the underworld, the former number one automotive world was well explored on several occasions the scenario of a merger with Chrysler. But this marriage of despair, to eliminate a competitor, would have been literally devastating in terms of jobs around "motor town". Is therefore a separate bailout, accompanied by a double put under Chapter XI of the Act of bankruptcies of Chrysler and GM, then on 30 April and 1 June, debt two builders and enable them to deliver their surplus industrial assets cheaply. He repudiates Rick Wagoner and becomes majority shareholder in GM of 61, the U.S. Government endorses the idea of the partial purchase of Chrysler by Fiat, a totally unknown actor in the United States which does not put a penny in the operation. It is Barack Obama in person who announces the new Americans, little common method across the Atlantic. It must be said that there is fire in Detroit. The U.S. auto market fell in a few years from 16 to 10 million vehicles per year. If the big local names collapsed, some 1.1 million direct and indirect jobs, are threatened.

Market under infusion

In the rest of the world, the shocks are also unprecedented. The strong Japanese as Toyota or Nissan brutally turn red, like most European manufacturers. Since the last quarter of 2008, Renault and PSA, whose stocks of unsold goods beyond on the parking and whose losses are in billions of euros, increasing measures of partial unemployment for whole weeks. The never-seen on such a scale. As early as January, the Government convenes General States of the automobile, unblocks more than EUR 6 billion of loans for two national manufacturers and asked in return, do not close plants in France. To boost the market, Matignon also introduces a premium in the case of 1,000 euros, on the model of the former "Skirt" and "Balladurette". Measures that will benefit most generalist brands, and which will be progressively imitated by most of the neighbouring countries. At the time, the very poor business results of the first half fade over the year, and in total, the European market should finish 2009 on neighbouring 2008 levels. Better, in France, the vintage which has just completed looms as the best by the number of registrations since 2001! But no one knows what will happen really when the French automobile market loses his crutches.