Economic Impact
The design, manufacture and sales of automobiles drive economic growth around the world.
A Growth Industry
Automobiles represent freedom and economic growth.
Automobiles are a liberating technology for people around the world. The personal automobile allows people to live, work and play in ways that were unimaginable a century ago. Automobiles provide access to markets, to doctors, to jobs. Nearly every car trip ends with either an economic transaction or some other benefit to our quality of life.
The auto industry is the single greatest engine of economic growth in the world.
The global auto industry is a key sector of the economy for every major country in the world. The industry continues to grow, registering a 30 percent increase over the past decade (1995-2005).
Autos create jobs, jobs, jobs.
Building 60 million vehicles requires the employment of about 9 million people directly in making the vehicles and the parts that go into them. This is over 5 percent of the world’s total manufacturing employment. It is estimated that each direct auto job supports at least another 5 indirect jobs in the community, resulting in more than 50 million jobs owed to the auto industry. Many people are employed in related manufacturing and services. Autos are built using the goods of many industries, including steel, iron, aluminum, glass, plastics, glass, carpeting, textiles, computer chips, rubber and more.
Global Output
If auto manufacturing were a country, it would be the sixth largest economy.
The world’s automotive industry made over 66 million cars, vans, trucks and buses in 2005. These vehicles are essential to the working of the global economy and to the wellbeing of the world’s citizens. This level of output is equivalent to a global turnover (gross revenue) of almost €2 trillion.
Research & Development
Automakers continue to invest in the future.
The automobile industry is also a major innovator, investing over €84 billion in research, development and production. The auto industry plays a key role in the technology level of other industries and of society. Vehicle manufacturing and use are also major contributors to government revenues around the world, contributing well over €400 billion.