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.
Chrysler Group LLC, for all its improved performance lately, doesn’t sell a lot of luxury cars to wealthy aficionados of German sports sedans. The new Chrysler 300 SRT8 is out to change that.
Billed as the first and largest-attended U.S. auto show, the 113-year-old New York International Auto Show also may be the most ironic -- hosted by the only U.S. city in which more than half the residents don't own a car.
Jeep enthusiasts are starting to embrace a more aerodynamic design of the new Cherokee even though some initially disliked photos, said Jeep chief Mike Manley.