Quick Facts

OBAMA ADMINISTRATION: THE RESURGENCE OF THE AMERICAN AUTOMOTIVE INDUSTRY

JUNE ,

The Auto Industry: Returning to Protability and Competitiveness

57%

increase in exports of vehicles and parts from January to May 2010 over the same period one year ago

39%

increase in exports of vehicles and parts to China totaling $35.5 billion

$2 billion

investments by GM in the coming months, creating or preserving more than 4,000 jobs at seventeen facilities in eight states

20,000

jobs saved or created from GM & Chrysler investments post-bankruptcy, investments totaling over $8 billion in their U.S. facilities

Auto Industry Quarterly job loss/gain1

,

7,900

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

, , ,

$1.1 billion

total investment into the Kokomo Indiana by Chrysler, retaining nearly 2,250 jobs2

$400 million

08

10

10

10

09

07

10

11

1: Bureau of Labor Statistics 2: Once 'dying,' Kokomo shows it's the comeback city, The Associated Press State & Local Wire, 5/14/11

invested to convert Chicagos Ford Assembly Plant for production of the 2011 Explorer, estimated to add 1,200 direct jobs and 600 supplier jobs

This plants success has had positive impacts on its suppliers and resulted in the creation of even more American jobs. The Plant

Case Study: Toledo Ohio Chrysler Plant

original plant built

1910

began assembling Jeeps

1942

direct employees

1,763

vehicles made in 2010

236,658

Tier 1 Suppliers for the Jeep Wrangler employ 3,000 Americans

200

total American suppliers are responsible for producing the Jeep Wrangler

144,685

Wrangler instrument panel production

Wrangler and Wrangler Unlimiteds were built at the plant in 2010

240 115

employees at Johnson Controls Inc. employees at Toledo Molding & Die

Auto Industry Timeline

DECEMBER MARCH SPRING

120,000

job losses a month by the auto industry. 400,000 jobs lost in 2008. Bush Administration provides $17.4 billion in temporary bridge loans to GM and Chrysler.
FALL

The President rejects restructuring plans from GM and Chrsyler, challenging them to develop more aggressive plans to return to viability.

Chrysler les for bankruptcy in April, followed by GM in June. GM exits bankruptcy 40 days later. Chrysler exits bankruptcy 42 days later.

$13.5 billion

SPRING

in net IPO proceeds to the U.S. Treasury by selling 45% of its GM common equity in November. In December GM repurchases all $2.1 billion of the U.S. Treasurys preferred stock
DECEMBER

$6.7 billion

JULY

loan GM repaid in April to the U.S. Treasury. In May, Treasury received a $1.9 billion payment from Chrysler Holdings.

Administration launches Cash for Clunkers which provides $3,500 or $4,500 bonuses to buyers. 35% of the nearly 700,000 participants would not have replaced their vehicle without the program.

41% to 44%

APRIL

the increase in market share for the year by all three Detroit auto makers.The largest gain since 1995.

113,000

SPRING

jobs added since June 09 by the auto industry - the fastest pace since 1998. As of Q1 2011, all three Detroit auto makers are generating positive quarterly net prots, the rst time since 2004.

$5.1 billion

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.

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MADE ON JUNE ,