The U.S. Automotive Industry
The United States has one of the largest automotive markets in the world. The U.S. is home to 12 auto manufacturers that produced an average of 8.6 million passenger vehicles from 2006 to 2010 . Since Honda opened its first U.S. plant in 1982, almost every major European, Japanese and Korean automaker has produced vehicles at one or more U.S. assembly plants. In addition to Honda and the big three U.S. auto companies - General Motors, Ford and Chrysler - Toyota, , Nissan, Hyundai-Kia, BMW, Daimler, Mazda, Mitsubishi and Subaru all have U.S. manufacturing facilities. Volkswagen is also opening a new U.S. plant on May 24, 2011, which will bring the manufacturer count to 13. Many also have engine and transmission plants and are conducting research and development, design and testing in the United States. The automotive industry accounts for between 4 and 5 percent of U.S. gross domestic product and employed approximately 674,000 workers in 2010 .
There is also an extensive network of autoparts suppliers serving the industry. Suppliers produced $203 billion in industry shipments in 2010, accounting for approximately 4 percent of total U.S. manufacturing. According to the Center for Automotive Research, automotive suppliers accounted for 3.3 million jobs nationwide in 2008 - more jobs and economic wellbeing than any other manufacturing sector.
Despite challenges within the industry in recent years, the U.S. automotive market is at the forefront of innovation. New research and development initiatives are transforming the industry to better respond to the opportunities of the 21st century.
In 2010, the U.S. exported approximately 2.3 million vehicles to more than 200 countries around the world valued at $45.3 billion, with additional exports of automotive parts valued at approximately $58 billion . With an open investment policy, a large consumer market, a highly skilled workforce, available infrastructure and government incentives, the United States is the premiere place for the future of the auto industry.