You do not understand if GM had been dissolved it would taken all the auto dealers and auto suppliers with it.
Not just the Suppliers that made parts for GM but the ones that supplied parts to Toyota , Honda, and others too.
The US supplies would be gone.
And since all manufactures including foreign and domestic shared supply companies even foreign auto manufacturing plants in the US would have closed shop.
That's why Toyota and Honda wanted congress/ US government to help prevent GM and the Detroit 3 auto companies from dissolving.
1 in every 10 jobs in the US was connected to the auto industry.
The Detroit 3 , US Honda , and Toyota are inter connected. They share the suppliers and if GM and Chrysler failed then the auto parts suppliers would most likely would have also failed causing the US Honda & US Toyota to close thier US factories.
In that scenario all of our autos would be imports.
Take a look at this article:
Why Toyota wants GM to be saved
A GM failure would cause production problems, crush already weak demand and potentially open the door to low-cost competitors.
Last Updated: December 16, 2008: 9:53 AM ET
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