Senate Democrats

U.S. Auto Industry Revived, Creating Manufacturing Jobs

Just two years ago, the American auto industry was on the brink of collapse, and some thought it would never return. Now, the American auto industry is revived, innovating and creating American manufacturing jobs.

FORD CREATES THOUSANDS OF AMERICAN MANUFACTURING JOBS.Ford Motor Co. set the Detroit auto show abuzz on its opening day Monday, as the company disclosed plans to hire 7,000 workers in the U.S. this year. The jobs news, and the return of an upbeat tone at the North American International Auto Show, are an illustration of the dramatic shift in fortunes for the U.S. auto industry, and especially those of hometown manufacturers Ford, General Motors Co. and Chrysler Group LLC.” [Wall Street Journal, “Car Makers Roll Again At Auto Show,” January 11, 2011]

CHRYSLER “RESURGENT,” “IN THE MIDST OF A PRODUCT BLITZ.” “A year ago, Chrysler didn’t have a single new vehicle to display at its hometown auto show, and rival executives were taking bets on how long the smallest and most troubled of Detroit’s three automakers would last. Now it is looking like the obituaries were premature. After stabilizing sales in the United States last year, Chrysler is in the midst of a product blitz that company executives and industry analysts say should help it pay off its government loans and re-emerge as a public company this year.” [New York Times, “A Resurgent Chrysler Says It Is Here to Stay,” January 11, 2011]

GM RETURNS BILLIONS TO TAXPAYERS. “American taxpayers’ ownership of General Motors was halved on Wednesday, and billions of dollars in bailout money was returned to the federal government, as a result one of the nation’s largest initial stock offerings ever…Still, now that General Motors has shown that it can be profitable, a complete exit by the government could happen even within the next two years. With the offering, G.M. is shedding its ties to the government faster than expected, cutting the Treasury Department’s ownership stake to 26 percent, from nearly 61 percent.” [NY Times, “U.S. Taxpayers Recover Billions in Sale of G.M. Stock,” November 17, 2010]

WALL STREET JOURNAL: “CAR MAKERS ROLL AGAIN AT AUTO SHOW.” “In December, GM and Chrysler each said they are looking to hire 1,000 engineers in Michigan this year. GM is also adding a shift at a plant in Orion, Mich., and Chrysler now aims to run two shifts at a Sterling Heights, Mich., factory that had previously been slated to close.” [Wall Street Journal, “Car Makers Roll Again At Auto Show,” January 11, 2011]

MOTOR TREND: CHEVY VOLT IS CAR OF THE YEAR, “GAME-CHANGER” FOR THE AUTO INDUSTRY. “Moonshot. Game-changer. A car of the future that you can drive today, and every day. So what should we call Chevrolet’s astonishing Volt? How about, simply, Motor Trend’s 2011 Car of the Year.” [Motor Trend, “2011 Motor Trend Car of the Year: Chevrolet Volt,” January 2011]