Press Releases
International Automakers Tout Continued Investment in America
Date:
Jun 26, 2008
Contact:
Kim Custer
Director, Communications
703.247.2110
kcuster@aiam.org
or Jennifer Baskerville
jbaskerville@qorvis.com
Member Companies’ Combined Investments Rise to Nearly $40 Billion
ARLINGTON, Va. (June, 26, 2008) –The Association of International Automobile Manufacturers (AIAM) today released updated investment figures for its member companies for calendar year 2007. Representing fourteen international automakers, total capital investment reached $39.3 billion in 69 major facilities, including vehicle plants, engine and transmission manufacturing operations, component facilities and research and development centers. Total direct employment created by AIAM member companies reached 92,700 with an annual payroll of $6.3 billion.
“Even with the economy slowing down during the last half of 2007, our member companies continued to invest in their American operations,” said Michael J. Stanton, president and chief executive officer of AIAM. “And in a down market, AIAM companies increased market share by building the kinds of products that fit the changing needs of the American consumer.”
The 3.5 million units built in the U.S. by AIAM companies represented 33% of total production by all companies manufacturing cars and light trucks in America. With a market share of 40%, approximately 55% of AIAM company U.S. sales were from products built here in the United States. AIAM member companies bought more than $46 billion in parts and materials from U.S. suppliers in 2007.
Additional major investment is planned for the near future, with AIAM companies expected to spend an additional $3.9 billion in new and updated U.S. facilities. Highlighting these are three new assembly plants. Honda will open a new vehicle plant in Indiana later this year, and in 2009 two additional vehicle plants will open—Kia’s in Georgia and Toyota’s in Mississippi.
“The ability of our member companies to design products that appeal to the American consumer, while at the same time investing in U.S. manufacturing operations that can switch product output in tune with shifts in customer preferences helps explain the ongoing achievements of our member companies in this market,” summarized Stanton.
For more information on both national and state investment and employment data, please visit www.aiam.org and click the “Economic Impact” tab.
About AIAM – AIAM member companies include American Honda Motor Co., American Suzuki Motor Corp., Aston Martin Lagonda of North America, Inc., Ferrari North America, Inc., Hyundai Motor America, Isuzu Motors America, Inc., Kia Motors America, Inc., Maserati North America, Inc., Mitsubishi Motors North America, Inc., Nissan North America, Inc. Peugeot Motors of America, Renault, SA, Subaru of America, and Toyota Motor North America, Inc. AIAM also represents original equipment suppliers and other automotive-related trade associations.
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Economic Impact
The Association of International Automobile Manufacturers, Inc. (AIAM) is a trade association representing 13 international motor vehicle manufacturers whose U.S. market share is 40 percent and growing.
Our members are dedicated to improving the safety and efficiency of our vehicles, as well as furthering our contributions to and investments in American communities.
