ARLINGTON, VA, June 26-The Association of International Automobile Manufacturers (AIAM) reports that investment figures for its member companies for calendar year 2007 have risen to nearly $40 billion. 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,” says 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 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.
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.
Auto Manufacturers Continue to Invest in the United States
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