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Saturday 27 May 2017
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Detroit Big 3 Drive U.S. Economy

Detroit Big 3 Drive U.S. Economy

Detroit’s Big 3 automakers — General Motors, Ford Motor and Fiat Chrysler — and their suppliers are now responsible for 3% of the nation’s economy and provide the largest source of manufacturing jobs, finds a new report.

They are big and healthy again, too, as sales of new American-made cars have risen 58% in the past five years following the recession, according to a trade group, the American Automotive Policy Council.

“American automakers drive the U.S. economy and their investments are making America more competitive in a global economy, and making significant contributions to the revival of manufacturing here in America,” says Matt Blunt, the former governor of Missouri who is president of the council.

According to the report, Chrysler U.S., Ford and General Motors operate more than 200 assembly plants, factories, research labs and other automotive facilities across 32 states in the nation. The three leading American automakers invest around $18 billion in research and development yearly.

Automakers have exported more than $632 billion in vehicles and parts over the past five years, making them one of America’s largest exporters.

Photo Credit: wtsp.com