Automotive Manufacturing Has Big Impact on Economy

By November 15, 2011Economy

The last few weeks we’ve seen several important indicators that automotive manufacturing in the U.S. is improving and and making an important contribution to our economy. In case you missed it, late last week the Center for Automotive Research in partnership with Hyundai Motor America released the findings of a study on Hyundai’s impact on the U.S. economy.

This study shows that Hyundai’s U.S. operations and dealerships have contributed to more than 94,000 private sector jobs and more than $7 billion to our nation’s GDP in 2011. Of those jobs 33,313 are directly related to Hyundai’s manufacturing activities with wages estimated at $2.4 billion.

Hyundai is providing a significant boost to the manufacturing economy in the U.S. and job creation.

Also in the news today is the announcement that Honda Motor Co. will be expanding its production facility in Alabama to produce light trucks and engines. The company will invest $84 million and hire more 100 workers for the expansion.

Automotive manufacturers are continuing to have a large impact and play an import role in the U.S. economy and economic recovery.

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