Auto sales in the United States have risen a dramatic 14 percent in 2013, as compared to sales statistics for the same time last year. This increase is a solid sign that the American auto market, which fell to historic lows during the recession, is making a steady recovery. Of the top three U.S. auto manufactures, both General Motors and Chrysler were forced to declare bankruptcy in order to receive huge government bailouts to keep the companies from closing. Ford was able to avoid bankruptcy, but the company still cut thousands of jobs, closed factories, and slowed production.
Fortunately, the tide has turned at dealerships all across the nation, as consumers are showing a growing demand for fuel-efficient cars and SUV’s. This demand has prompted automakers to increase output at their current plants, while investing money to re-open old plants, and add thousands of new jobs. Automakers are determined to expand production in the United States in order to keep up with consumer wants and needs.
Ford, the country’s second largest automaker behind General Motors, recently announced that they are planning on spending $200 million to re-open and renovate their Cleveland plant. The plant will be upgraded to produce engines for use in Ford’s top selling fuel-efficient vehicles. The company will also add over 10,000 blue and white collar jobs in the next year. In an unprecedented move, Ford will actually be moving some vehicle production from Mexico to a Michigan plant.
According to Joe Hinrichs, the head of Ford’s Americas region, “A new agreement with the United Automobile Workers union local in Cleveland has allowed us to expand and bring business back to the U.S. This is about servicing more demand in the United States.”
Ford’s announcement comes on the heels of G.M.’s declaration that they have plans to invest $600 million in their assembly plant near Kansas City, Kansas. G.M.’s plant in Kansas is one of the company’s oldest factories. Chrysler, the smallest of the big three Detroit auto manufactures, added a third shift to their Jeep plant in Detroit in order to keep up with consumer demand.
All three auto manufactures are determined to meet the demand of American consumers by ramping up their manufacturing sites in the United States. This is good news for anyone in the market to purchase a vehicle. For more information on applying for auto financing, click here.