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US Automotive Market

Industry Sector

Automotive and Parts

Published

27 February 2012

Author

Paul Chapman

Type of News

Market

The US Automotive market is one of the largest automotive markets in the world. There are twelve automotive manufacturers in the US, producing an annual average of nearly 9 million passenger vehicles per year. The US is also home to major European, Japanese and Koren automobile manufacturers. In addition to General Motors, Ford and Chrysler other manufacturers have US manufacturing facilities, including Honda, Toyota, Nissan, Hyundai-Kia, BMW, Daimler, Mazda, Mitsubishi and Subaru. Wolkswagen opened a new US automobile manufacturing plant in 2011.

The automotive industry accounts for between 4 and 5 percent of US gross domestic product and employed approximately 674,000 workers in 2010. There is also an extensive network of autoparts suppliers serving the industry. Suppliers produced $203 billion in industry shipments in 2010, accounting for approximately 4 percent of total US manufacturing. According to the Center for Automotive Research, automotive suppliers accounted for 3.3 million jobs nationwide in 2008 - more jobs and economic wellbeing than any other manufacturing sector.

In 2010, the US exported approximately 2.3 million vehicles to more than 200 countries around the world valued at $45.3 billion, with additional exports of automotive parts valued at approximately $58 billion . With an open investment policy, a large consumer market, a highly skilled workforce, available infrastructure and government incentives, the United States is the premiere place for the future of the auto industry.

See all Automotive Market Research:
http://www.companiesandmarkets.com/Market/Automotive-and-Parts/Market-Research

[Last Updated: 27/02/2012]

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