Automotive Industry Is Promoting R&D and Jobs in America
In July the American Automotive Policy Council (AAPC) released the “State of the U.S. Automotive Industry 2015,” its annual report providing the contributions of American automakers to the U.S. Economy. The report proved that American automakers are playing a major role in improving the U.S. economy, especially when it comes to job creation.
FCA US, Ford and General Motors employ two out of three of America’s autoworkers and operate three out of five of America’s auto assembly plants. America’s largest manufacturing sector which is accountable for three percent of the GDP is made up of automakers and their suppliers.
Auto sales has risen from $10.4 million in 2009 to $16.5 million in 2014, a 58 percent increase, and auto production in the U.S. has close to doubled. The industry employs nearly 8 million Americans, paying $500 billion in yearly compensation and producing $70 billion in personal tax revenue.
FCA US, Ford and General Motors all invest more than $18 billion in research and development each year, which is more than the leading tech, biotech and electronic companies. In doing so, they are making America more innovative and competitive as a whole.
Automotive companies like FCA US, Ford and General Motors take pride in building their products here in America and will continue to do so while promoting American innovation and job growth.