America’s Auto Industry: Back and Better than Ever
As the American manufacturing industry is making a major rebound, helping the economy grow, consumer confidence is up and constantly gaining. In general, people are hiring more and spending more. One of the industries leading all of this is the automotive industry. According to this article, U.S. auto companies and suppliers added 5,100 new jobs in June alone, and that number is expected to get even bigger—with a predicted 35,000 new workers to be added to the industry this year.
Also in June, new vehicle sales reached the fastest monthly pace since December 2007, and in 2012, dealership sales of new vehicles resulted in the highest profits since 2004. This article states, “Last year was the best ever for auto dealership profits. And all the signs point to 2013 being even better.” To further prove the point, just before the auto industry took its recession nosedive, they were producing 40 new vehicle models each year; now, they are expected to put out 74 brand new models this year, and approximately 70 each year for the next five years. All signs point to a very optimistic future for the auto industry, and, thanks to them, a better economic climate.
In our industry, we are seeing this firsthand. On a daily basis, automotive suppliers are seeking us out, in need of automotive extrusions—luckily, one of our specialties. A huge majority of what we are quoting on and supplying is seat and accent pieces: plastic seat beading (we supply about 90% of the U.S. market for these), floor mat trims, edge trims, leather strips, guards, tubing, etc. At Preferred Plastics, we’ve had years of experience working with auto suppliers on these parts, while diversifying into other industries as well, and we are thrilled to see the current success of the industry.
American carmakers have always been a huge and integral part of the country’s economy and culture, and now they are back in a big way—with no signs of slowing down.