Trade groups representing the companies including General Motors Co (N:GM), Volkswagen AG (DE:VOWG_p) and Toyota Motor Corp (T:7203), said in a letter Monday that Congress should set up facilities “to provide loans and loan guarantees to large employers, medium-size manufacturers and small businesses.”
The letter noted analysts expect U.S. auto sales to fall by 90% in March as about 95% of U.S. auto plants are currently closed, impacting about 165,000 workers.
