Last year, international automakers operated 380 U.S. facilities, representing a $64 billion investment, and employed 100,000 Americans, says a recent report from the American International Automobile Dealers Association and the Association of Global Automakers.
“For over 50 years, international automakers have invested billions of dollars in the U.S. and have revitalized local economies, created tens of thousands of jobs, and expanded the local tax base,” says John Bozzella, CEO of the Association of Global Automaker, whose members include Ferrari and Aston Martin. “As the data demonstrates, the old perceptions of foreign versus domestic in the U.S. don’t fit the reality anymore.”
The report, Redefining the American Auto Industry, also found that international automakers produced more than 5 million vehicles in the U.S., or 45 percent of all vehicles built in America. The companies also sold 7.5 million vehicles, representing 59 percent of all U.S. sales, and exported 800,000 vehicles from the U.S. to more than 60 different countries.
“The positive economic ripple effect created by our industry doesn’t end after the vehicles are designed, built, and distributed to dealerships nationwide,” says Cody Lusk, president of the AIADA. “The impact only grows.”
According to the report, international automakers created 500,000 additional American jobs through 10,000 dealership franchises.
To read the full study — which analyzed data from BMW, Honda, Hyundai, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Toyota, Volkswagen, and Volvo — click here.
IN OTHER AUTOMOTIVE NEWS, nearly 75 percent of mothers consider themselves to be the “sole decision-maker” in the vehicle shopping process, according to a study by C+R Research in Chicago.
“It’s important for dealers to remember that moms have done the same amount of research, if not more, than any other customer before stepping onto the lot, and they’re confident in their ability to navigate the car buying process,” says Jack Simmons, manager of dealer training at Cars.com, which commissioned the report.
“More than 60 percent of moms surveyed said they trust the information they find online more than what they’re told from dealers, which means dealers need to go above and beyond to prove their authenticity and value.”