From research labs and supplier factories to assembly lines and dealership showrooms, the auto industry supports nearly 8 million jobs, pays $500 billion in annual compensation and generates $70 billion in personal tax revenue in the United States.
And, as low-skill manufacturing has shifted overseas (for example, in textiles or some consumer electronics), the importance of high-skill manufacturing, like automobiles, has risen. With auto sales rebounding from the financial crisis of the 2008 – 2009, automakers’ importance to our economy will continue to grow. Industry experts predict Chrysler, Ford and GM could hire 34,000 new workers over the next four years. And those new jobs will support about 300,000 more new jobs at auto suppliers and other local businesses that serve Chrysler, Ford and GM plants.
Chrysler, Ford and GM are just three of 16 major global automakers competing in the U.S., but they employ two-thirds of America’s autoworkers, purchase nearly two-thirds of the auto parts manufactured here, produce 55 percent of the autos assembled here and conduct most of America’s auto research and development.
Why do Chrylser, Ford and GM contribute so much more to our economy? Because they conduct the bulk of their engineering, manufacturing, marketing and finance work here. Four out of 10 Chrysler, Ford and GM employees are based in the U.S. At Toyota, Honda, Nissan, Hyundai/Kia, BMW, Mercedes and VW (the seven largest foreign automakers), only five in 100 employees are based here. That eight-fold difference translates into millions of U.S. jobs and tens of billions of dollars in parts sales, R&D and capital investment each year.
Chrysler Group LLC will invest $63 million in its Warren Stamping Plant to expand capacity.
The money will be used to buy and install a high-tech, high-speed press line that will increase capacity by about 3.6 million parts per year, the automaker said in a statement Wednesday.
The 65-year-old plant provides parts stamped from sheet metal — hoods, roofs, liftgates, side apertures, fenders and floor pans — for vehicles including the Dodge Grand Caravan, Durango and Dart; Jeep Grand Cherokee; Chrysler Town & Country; and Ram trucks.
Ford has announced its all-new 2015 Edge crossover. Using the same vehicle architecture as the Ford Fusion, the Edge features a front camera for better visibility, adaptive cruise control and inflatable seat belts, Ford said in a statement released Tuesday.
The Edge will be offered with a 245-horsepower 2-liter 4-cylinder EcoBoost engine, as well as the standard naturally aspirated 3.5-liter V6 and a 2.7-liter EcoBoost V6 that Ford says will deliver more than 300 horsepower. The Edge will also be available with all-wheel drive for the first time.
Chrysler and Fiat leadership outline strategy for the future and discuss supply base’s role in Fiat Chrysler Automobiles’ outlined plans
Eighteen awards presented for extraordinary performance in 2013
June 24, 2014 , Auburn Hills, Mich. - Chrysler Group LLC and Fiat S.p.A. executives today met with approximately 3,000 supplier representatives at their 2014 Annual Strategy Meeting and Supplier Awards Ceremony held at the Palace of Auburn Hills.
Ford Motor Co. safety engineer Roger Trombley didn’t want his kids to think he was just the guy who walked through the door of their Ann Arbor home at the end of the day.
So Trombley, 37, became the first man in his department to go to a part-time schedule, in 2009, so he could be with son Dillon. Since then, three other dads in his unit at Ford have followed suit.