General Motors made a record-breaking profit last year. And to date, taxpayers have recovered close to half the $50 billion federal investment in the company. So the auto bailout worked, right? Wrong, say Republican presidential candidates, who insist the bailout was a huge mistake.
At the 2012 North American International Auto Show, it's clear that the industry's love affair with alpha-numeric designations hasn't waned. There's the ATS, the 700C, the MKZ. Now comes the CTX, a new line of Craftsman riding lawn mowers. They are fast, powerful and loaded with amenities.
"Everybody knows that Detroit's the national stage for cars — Motor City is where autos come from. So this show made perfect sense to come here and launch the tractor," says Onney Crawley, Craftsman's director of brand management for lawn and garden.
This year's auto show in Detroit could set the stage for a shake-up in the fiercely competitive — and hugely profitable — luxury car scene. That's because there's a new kid on the block, and its name is Cadillac.
The General Motors company says its new small, high-performance ATS will allow it to compete for the first time with Audi, Mercedes-Benz and BMW. But getting a brand-new luxury car like the ATS ready for market can be a grueling process.
And let's turn now to the latest volley in the ongoing tariff war. American politicians have vowed to fight new Chinese tariffs on U.S. made cars and SUVs. Michigan Radio's Tracy Samilton has more.
TRACY SAMILTON, BYLINE: In 2010, the U.S. won a Chinese tire-dumping complaint before the World Trade Organization. Then China complained about U.S. poultry dumping. The U.S. said China subsidizes solar panels. Now the fight's over cars. Republican Congressman Kevin Brady of Texas heads a trade subcommittee.