US AutoExport Industry
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February 6 th 2015 US Auto Exports Top 2 Million in 2015 US Auto exports hit a record for the 3 rd year in a row in 2014 as strong demand for US Made cars and SUVs especially in the Asian countries like China, South Korea, Saudi Arabia etc. amid strengthening dollar. As the dollar’s change is very recent, it doesn’t have any significant affect on the sourcing. Foreign owned US Auto Plants contributed to the surge in demand, which are now exporting more vehicles to other markets. Last year they shipped 2.1 Million out of 11.4 Million new automobiles were built in the US and shipped to other countries. According to US International Trade Administration, it is an 8% increase over 2013 and 73% over 2004. About half of the US car exports go to Canada or Mexico. Major contributors in US Exports are American made cars like Ford, Jeep, Mercedes-Benz, BMW. Japanese auto manufacturers like Toyota Motor Corp. and Honda Motor co. that cater to US customers are also exporting now. According to the Oliver Wyman Consulting firm, The US has become one of the low-cost places to build cars. Leaner Manufacturing techniques and more competitive labor rates are helping US auto plants to compete on global stage. The US Auto trade deficit was about $109.4 Billion last year. Demand for US vehicles is also growing. US brands like Lincoln, Ford, Jeep etc. export a number of SUVs to Middle East and Asia. Mercedes Benz and BMW are both planning significant investments in their manufacturing facilities that could further boost exports.
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US Auto Export Industry growing in Exports by 2015
Transcript of US AutoExport Industry
February 6 th 2015
US Auto Exports Top 2 Million in 2015
US Auto exports hit a record for the 3rd year in a row in 2014 as strong demand for US Made cars and SUVs especially in the Asian countries like China, South Korea, Saudi Arabia etc. amid strengthening dollar. As the dollar’s change is very recent, it doesn’t have any significant affect on the sourcing.
Foreign owned US Auto Plants contributed to the surge in demand, which are now exporting more vehicles to other markets. Last year they shipped 2.1 Million out of 11.4 Million new automobiles were built in the US and shipped to other countries. According to US International Trade Administration, it is an 8% increase over 2013 and 73% over 2004. About half of the US car exports go to Canada or Mexico. Major contributors in US Exports are American made cars like Ford, Jeep, Mercedes-Benz, BMW.
Japanese auto manufacturers like Toyota Motor Corp. and Honda Motor co. that cater to US customers are also exporting now. According to the Oliver Wyman Consulting firm, The US has become one of the low-cost places to build cars. Leaner Manufacturing techniques and more competitive labor rates are helping US auto plants to compete on global stage. The US Auto trade deficit was about $109.4 Billion last year.
Demand for US vehicles is also growing. US brands like Lincoln, Ford, Jeep etc. export a number of SUVs to Middle East and Asia. Mercedes Benz and BMW are both planning significant investments in their manufacturing facilities that could further boost exports.
