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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
Manufacturing.net

Buffalo, N.Y. (Manufacturing.net) — At General Motors’ Tonawanda Engine Plant in Buffalo, N.Y., a $400 million investment in advanced manufacturing techniques will allow the company to produce 1,000 Gen 5 Small Block engines daily — a 4.3L V-6, 5.3L V-8 and two variants of a 6.2L V-8. The new engines will power nine GM models by 2015, starting with the 2014 Chevrolet Silverado and GMC Sierra pickups, plus the 2014 Chevrolet Corvette Stingray.

Production began at the Tonawanda plant began in 1938, with an emphasis on high-performance engines for vintage Chevrolet muscle cars and Corvettes. It is also the birthplace of the Small Block engine, which went into production in 1955. This year, the plant will build its 71 millionth engine, which currently includes the Ecotec 2.0L Turbo and 2.5L engines that power the 2013 Chevrolet Malibu and the 2013 Cadillac ATS.

Filed Under: Manufacturing Economy
Sep 05 2013
Written by Melissa Burden | Posted on The Detroit News

General Motors Co. said Wednesday it has started production on the fifth generation of small-block engines — including the 6.2-liter V-8 LT1 that powers the new 2014 Chevrolet Corvette Stingray — at its Tonawanda Engine Plant in Buffalo, N.Y. The new work has more than doubled employment at the factory since 2009.

GM announced in April 2010 it would invest $400 million in the plant to build the new engines. The funding brought advanced manufacturing tools to the plant to build four small-block variants on the same assembly line. The Detroit-based automaker said the plant by 2015 will produce small-block engines for nine GM models.


 

Filed Under: Manufacturing Economy
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

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