Establishing the domestic content of a motor vehicle is not the straightforward question that it would seem to be. The complexity of the motor vehicle, as well as the complexity of the motor vehicle industry, have made the determination of the exact percentage of domestic content of a vehicle a daunting task. It is, however, an important task to undertake, as the origins of a motor vehicle affect society in a variety of ways – for example, consumer decisions to purchase imported motor vehicles impact employment in the U.S. industry. This paper examines the various metrics used to determine how much of a motor vehicle is considered to be domestically produced.
This study estimates the economic impact in 2011 of Hyundai’s U.S. operations on the U.S. economy. In addition to the direct workers employed by Hyundai in all of its U.S. operations, many more people are needed to supply the goods and services that are directly or indirectly related to the operations of a motor vehicle company, or have jobs that are supported when the direct and indirect workers spend their paychecks in their communities.
Contribution of Toyota Motor North America to the Economies of Sixteen States and the United States in 2010
This study seeks to estimate the economic impact in 2010 of Toyota’s U.S. operations on the U.S. economy and 16 individual state economies. It finds that Toyota’s employment in the U.S. contributes to the support of more than 365,000 jobs nationally, and compensation of over $20 billion.
In late 2008 and throughout much of 2009, the global economy was in recession and the world’s automotive industry was in crisis. In the United States, automotive sales plummeted to historically low levels, both automotive commercial and consumer credit availability contracted sharply, and critically, two major automotive manufacturers—General Motors and Chrysler—were on the brink of collapse.