Managing the Financial Side of Commercial Fleets

AFLA Urges Congress to Approve Financial Assistance for Auto Industry

November 26, 2008

ST. PAUL, MNThe following letter was sent November 26 to U.S. House of Representatives Speaker Nancy Pelosi, House Minority Leader John Boehner, and Senators Harry Reid (Senate majority leader) and Mitch McConnell (Senate minority leader). Below is the text of the letter:

"The Automotive Fleet & Leasing Association (AFLA) urges Congress to come to the assistance of the U.S. automobile industry. We fear that failure to do so will have dire consequences to the U.S. economy, resulting in the unemployment of millions of Americans. It is crucial that Congress passes an immediate financial stimulus package for the U.S. automobile industry.

AFLA is a 40-year old industry association representing the U.S. commercial fleet management industry. We have more than 300 member companies representing all industry segments, including: corporate fleets; fleet leasing companies; automobile dealerships; auction companies; fleet maintenance and repair companies; and many other specialized suppliers.

General Motors, Ford Motor Co., and Chrysler are key suppliers of vehicles to the U.S. commercial fleet management industry. The vitality of domestic automobile manufacturers is crucial to the economic well-being of the fleet management industry.

Congressional financial assistance in the form of a bridge loan is critical since the credit lines normally available to the automobile industry are now frozen. The limited availability of credit is also impacting vehicle leasing companies. The government's financial aid also must include solutions for these companies.

AFLA urges you to implement immediate assistance to the U.S. automotive industry for the well-being of the commercial fleet management industry and the greater well-being of the U.S. economy."  

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