Middle Eastern, Asian Demand Fuels Booming US Auto Exports
Demand from the Middle East and Asia has helped fuel a new record in U.S. auto exports for the third consecutive year.
The Wall Street Journal reports 2.1 million vehicles from factories in the Midwestern and Southeastern United States left for export markets in 2014, breaking the 2-million barrier for the first time. The figure is an 8 percent increase over 2013, and a 73 percent jump from a decade ago.
While around half of the exports head north to Canada or south to Mexico, China, Saudi Arabia and South Korea welcomed U.S.-made BMWs, Jeeps, Toyotas et al to their ports over the past year.
Factors for the booming export market include a dollar that was weak long enough to lay down the foundation, and is now strong enough against the yen and euro to encourage more production in the U.S., leaner manufacturing, competitive labor rates, and the aforementioned increased demand from newer markets in the Middle East and Asia.
Remember this article when you hear people talk about raising tariffs and shutting down international trade and investment to protect US jobs. According to the US Commerce Dept. 11 million jobs are tied to exports.
ISIS now ordering Jeeps for gun platforms? as opposed to: "Texas Mark-1 plumbing truck Ends Up with ISIS in Syria."
@RobertRyan - I'm surprised that the USA lets it happen. I'm sure that it is deliberate on the part of ISIS. There is much more PR shock value by using an American pickup as a war vehicle against Americans than a clapped out Hilux.
How much of jeep today is really just fiat technology. Ok, the pentastar v6 is American. At least America still has Boeing, Apple, and Microsoft. People around the world love those companies products.