Auto supplier support program (Auto SSP)

Auto supplier support program (Auto SSP),

Definition of Auto supplier support program (Auto SSP):

  1. A $5 billion program funded by the U.S. Treasury in 2008 to support the U.S. auto industry. Because U.S. auto companies were struggling to survive, many suppliers were reluctant to extend them credit. The Auto SSP guaranteed payment to qualified suppliers, so that auto makers could continue production.

Meaning of Auto supplier support program (Auto SSP) & Auto supplier support program (Auto SSP) Definition