CEOs representing 98 automotive supplier industry companies have sent a letter to each member of the US Senate and House of Representatives, urging Congressional support for financial assistance to the automotive industry. The letters cite the need for credit markets to start moving and for access to new capital to help protect the automotive and supplier jobs at risk in the current financial crisis.

The letter calls upon Congress to provide immediate financial assistance to the auto industry and to include the supplier industry in any options. “The vehicle manufacturers and the supplier industry are interwoven,” said Bob McKenna, president and CEO of the Motor & Equipment Manufacturers Association (MEMA, Research Triangle Park, North Carolina / USA; www.mema.org). “Addressing the current financial challenges the automotive industry faces is not a bailout, but will help provide a framework and structure for protecting these valuable domestic manufacturing jobs.” MEMA said that, according to recent studies, motor vehicle suppliers are the country’s largest manufacturing sector and provide 70% of the content of US-built cars and trucks.