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Manufacturing Economy

From research labs to dealership lots, the auto sector supports nearly 8 million U.S. jobs.

Exports. The auto industry is America’s largest exporter. Over the past six years, automakers and suppliers have exported nearly $600 billion worth of vehicles and parts. They beat the next best performing sector (aerospace) by $74 billion. Last year alone, automakers and suppliers out-exported the aerospace industry by $20 billion.

Raw Materials and Parts. The U.S. auto industry is one of the largest consumers of domestic raw materials and parts. Last year, automakers sold nearly 13 million cars in the U.S., and each contained between 8,000 to 12,000 parts, using more than 3,000 pounds of iron, steel, rubber, glass and semiconductors. Approximately 686,000 Americans work at the plants, offices and research labs that produce those parts and materials.

American Research & Development. Designing those 8,000 to 12,000 auto parts and helping put them together makes autos among the most engineering-intensive industries in the world. In fact, eight out of the world’s top 25 corporate investors in research and development are automakers. GM and Ford each invest more each year on research and development than Boeing, Amgen and Google – and 80 cents of every dollar they invest in research and development is spent here in the U.S. Thanks largely to this investment, nearly one in 10 engineers and scientists in private sector R&D work for an automaker or supplier.

Sep 05 2013
Written by Karl Henkel | Posted on The Detroit News

Cheap credit, consumer confidence and new offerings caused retail car buyers to flock to dealer showrooms in August, boosting auto sales to their strongest month in more than six years.

Automakers beat expectations and sold 1.5 million cars and light trucks last month, a 17 percent increase from the same period a year ago, according to Autodata Corp. That translates into a seasonally adjusted annualized selling rate of 16.09 million cars and trucks, the first month the sales rate was above 16 million since October 2007.

 

 

Filed Under: Manufacturing Economy
Sep 05 2013
The New York Times

The stock market rose on Wednesday as investors were encouraged by a surge in auto sales in August and other signs of strength in the economy.

Shares of General Motors, Ford Motor and Toyota Motor rose after the auto industry reported its best month in six years.

Filed Under: Manufacturing Economy
Sep 05 2013
Written by Justin Lahart | Posted on The Wall Street Journal

Car dealers had a very good August. That may signal the U.S. economy is finally getting dealt a better hand.

General Motors, GM +4.77% Ford Motor, F +3.37% Toyota Motor 7203.TO +0.32% and Chrysler Group on Wednesday all reported a strong increase in light-vehicle sales last month, to an annualized 16.1 million cars, according to Autodata, the strongest since October 2007. Industry watcher WardsAuto had expected 15.7 million, while Kelley Blue Book was looking for 15.6 million, suggesting that a late-month lift pushed sales higher.

Filed Under: Manufacturing Economy
Sep 05 2013
Written by James R. Healey, Chris Woodyard and Fred Meier | Posted on USA Today

Fueled by better products, low-interest loans, cheap leases and intense Labor Day shopping, Detroit car companies beat analysts estimates and reported numerous sales records for brands and models in August.

"The news is even more positive than the overall numbers imply, as individual car buyers, not fleet sales, are behind the surge," says Edmunds.com senior analyst Michelle Krebs. And sales incentives of all kinds were down 3% from from July to $2,374, Edmunds.com estimates, though were up 3% from last August.

Filed Under: Manufacturing Economy
Sep 05 2013
Written by Jerry Hirsch | Posted on Los Angeles Times

Strong August auto sales numbers revealed a problem last month that Ford, GM and Chrysler once would have begged for — not enough cars to sell.

Automakers sold 1.5 million vehicles last month, a 17% gain over the same month a year ago and one of the best showings since 2007, before the Great Recession set in, according to Autodata Corp.

Filed Under: Manufacturing Economy

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