Obama Administration: The Resurgence of the American Automotive Industry

Quick Facts OBAMA ADMINISTRATION: THE RESURGENCE OF THE AMERICAN AUTOMOTIVE INDUSTRY TIHE WIITE SE The Auto Industry: Returning to Profitability and Competitiveness 57% $2 billion 20,000 39% increase in exports of vehicles and parts from January to May 2010 over the same period increase in exports of vehicles and parts to China totaling $35.5 billion investments by GM in the coming months, creating or preserving more than 4,000 jobs at seventeen facilities in eight states jobs saved or created from GM & Chrysler investments post-bankruptcy. investments totaling over $e billion in their U.S. facilities one year ago 7,900 Auto Industry Quarterly job loss/gain' of the 20,000 saved or created jobs were the result of new shifts at GM plants in KS, IN, MI and OH, since they emerged from bankruptcy 50.000 ----- ---- ---- $1.1 billion 50.000 total investment into the Kokomo Indiana by Chrysler, retaining nearly 2,250 jobs -100,000 -150,000 $400 million 10 invested to convert Chicago's Ford Assembly Plant for production of the 2011 Explorer, estimated to add 1,200 direct jobs and 600 supplier jobs 1: Bureau of Laber Statneca 2"Once 'dying Kokomo shows it's the comeback city The Associated Press Seane &Lecal Wire. S14m Case Study: Toledo Ohio Chrysler Plant This plant's success has had positive impacts on its suppliers and resulted in the creation of even more American jobs. The Plant 1910 Jeep 1942 1,763 TI drect employees 236,658 original plant built began assembling Jeeps vehicles made in 2010 Tier 1 Suppliers for the Jeep Wrangler employ 3,000 Americans 200 responule the Jeep Wrangler Wrangler instrument panel production 144,685 Wrangler and Wrangler Unlimited's were built at the plant in 2010 240 employees at Johnson Controls Inc. Fuel Tank Assy Hardtop Vites Steering Column Toledo Machine Perysburg. OH Detroit. MI Conteinental Seructural Plastics Carey. OH 115 Seats Johnson Controh Northwood. OH employees at Toledo Molding & Die Glass Pittsburg Glass Works Crestline OH Cowl Screen Tom Smith Clayton. OH HVAC Cargo Area Intl Auto Components Helmesville. OH Denso Cooling Module Battle Creek, MI Valeo Greemburg IN Exhaust Jeep Benteler Grand Rapids, MI Tires 1/P and Console Goodyear Toledo Molding & Die Tiffin. OH Union Cty. TN Door Handles Adac Saranac. MI Deer Module Hi-Lex Hudson, MI Hinges Global Automotive Systems Milan, MI Front End Module Decoma Toledo OH Axels Dana Dry Ridge, KY Auto Industry Timeline DECEMBER 2008 - MARCH 2009 -- -- SPRING 2009 -- The President rejects restructuring plans from GM and Chrsyler. challenging them to develop more aggressive plans to return Chrysler files for bankruptcy in April, followed by GM in June. GM exits bankruptcy 40 days later. Chrysler exits bankruptcy 42 days later. 120,000 job losses a month by the auto industry. 400,000 jobs lost in 2000. Bush Administration provides $17.4 billion in temporary bridge loans to GM and Chrysler. to viability. - FALL 2010 -- - SPRING 2010 JULY 2009 - $13.5 billion in net IPO proceeds to the U.S. Treasury by selling 45% of its GM common equity in November. In December GM repurchases all s2.1 billion of the U.S. Treasury's preferred stock Administration launches "Cash for Clunkers" which provides $3,500 or $4,50o bonuses to buyers. 35% of the nearly 700.000 participants woukd not have replaced their vehicle without the program. $6.7 billion loan GM repaid in April to the U.S. Treasury. In May. Treasury received a $1.9 billion payment from Chrysler Holdings. DECEMBER 2010 ---- APRIL 2011 --- --- SPRING 2011 -- 41% to 44% 113,000 $5.1 billion jobs added since June '09 by the aauto industry - the fastest pace since 1998. As of Q1 2011, all three Detroit auto makers are generating positive quarterly net profits, the first time since 2004. the increase in market share for in TARP loans repaid by Chrysler, while also terminating their ability to draw a remaining $2.1 billion TARP loan commitment. This brings the total amount Chrysler returned to $11.2 billion. the year by all three Detroit auto makers. The largest gain since 1995. --- -- -- WHITEHOUSE.GOV MADE ON JUNE 3. 2011 40, to