Motor vehicle and parts manufacturing gross output in U.S. 2005-2018
This statistic represents gross output of motor vehicle and parts manufacturing in the United States between 2008 and 2018. In 2018, this sector generated a gross output of approximately 752 billion U.S. dollars.
The automotive industry is the second largest consumer of aluminum and steel. It also accounts for eight percent of all exported goods around the world. This means that motor parts companies rely on well-flowing international trade of vehicles and raw materials. On the whole, U.S manufacturing fell; the Institute of Supply Management manufacturing index hit its lowest level post financial crisis in September 2019. The future of the manufacturing industry of the U.S. will depend on the result of President Trump’s negotiations with China and other nations. Manufacturing jobs are some of the most likely to be lost as a result of steel and aluminum tariffs.
Motor parts manufacturing growth
The growth of automotive component industry is completely dependent on the health of the finished vehicle market. Growth in the global automotive industry slowed down between 2016 and 2018; sales of new light vehicles decreased and production output dipped to 96 million vehicles in 2018.The automotive industry is the second largest consumer of aluminum and steel. It also accounts for eight percent of all exported goods around the world. This means that motor parts companies rely on well-flowing international trade of vehicles and raw materials. On the whole, U.S manufacturing fell; the Institute of Supply Management manufacturing index hit its lowest level post financial crisis in September 2019. The future of the manufacturing industry of the U.S. will depend on the result of President Trump’s negotiations with China and other nations. Manufacturing jobs are some of the most likely to be lost as a result of steel and aluminum tariffs.
