Many aspects of the automotive industry have an impact. In 2020, Americans spent 47 minute per day to travel. Most of these minutes were spent within cars.
Many people have a car as a part their daily lives. But, that doesn’t mean the automotive sector isn’t important.
How many people work for the industry? How much are they paid and how many automobiles do Americans own? How has the sector performed during the epidemic?
These questions will enable you to make an educated decision about when and where you should buy your car. This is a quick guide.
The United States has long had an automotive industry as a major employer. While industry leaders often speak of automation, very few people have implemented automation. This means that thousands are still employed by automakers in America.
Get the most recent statistics from the industry at the Bureau of Labor Statistics They publish unadjusted rates, and they adjust employment numbers seasonally. They do so because demand can fluctuate, especially during holiday season when people want to drive cars.
The seasonally adjusted September 2021 employment rates suggest a strong market. 906.600 Americans worked in the car manufacturing industry. More than two million Americans worked as motor vehicle and parts dealers.
The unadjusted numbers were slightly lower. 911,600 Americans worked at manufacturing. Only a quarter of a million Americans worked at dealerships.
The pandemic was not a major problem for the automotive sector. All industries have higher rates than the 2020 annual average. Many people will stay employed if vehicle ownership remains high in demand.
Other countries also have strong industries. Small businesses like ZYTYRES have many workers.
The Bureau of Labor Statistics also provides information on hourly earnings. Some workers earn annual wages but the majority of those working in factories are paid hourly.
The majority the most recent figures were for August 2021. The Bureau does no provide hourly earnings statistics adjusted for seasons.
Manufacturers have the only figure for September 2021. This month, average hourly wages for employees were $25.11
Wholesale sellers of cars earned an average $24.49/hour in August 2021. Automotive dealers were paid $26.28 an hr, while automotive repair specialists earned $21.27.
Most automotive employees work more hours than 40 hours per semaine. This allows them to make more than $1,000 a week.
Electric vehicles are on the rise. A car can have a huge impact on the world’s environment. A first-time car buyer’s carbon footprint can be reduced significantly by using electricity as an alternative to oil.
Many countries are showing great interest in electric vehicles. The global market was worth $162billion by 2019. About 1.6 Million electric cars are currently on the road.
By 2027, the industry is expected increase to $802 billion. 18.7 million vehicles will already be in operation.
This may seem like quite a few, but it’s not. This is why many people who are lower-income don’t want to buy electric cars.
The Bureau of Transportation Statistics keeps you updated on vehicle production. In 2019, the United States produced almost 11 million vehicles. However, there was a dip in the production of American vehicles. Only 8.8 million vehicles were made in 2020 due to the pandemic.
Many of those vehicles were commercially manufactured. These vehicles include SUVs, minivans, pickup trucks, and minivans. In 2020, nearly 6.9 millions commercial vehicles were outsourced from factories.
This is equivalent to more than 1.9million passenger cars. In 2013, the number of cars manufactured was more than 4.3 Million. This is a sign that more people are purchasing vans and used vehicles instead of buying new cars.
Domestic sales data also show the rise of used automobiles. Before the pandemic, rates had been high. In 2019, more than 13.6million vehicles exchanged hands.
This number dropped to 11.6million in 2020. People were motivated by the pandemic to save money and put off buying cars. In 2020, Americans purchased 2.6M passenger cars and nine Million commercial vehicles.
The Bureau of Transportation Statistics collects together the sales of American and Canadian cars. This makes it difficult, if any, to find out how many American cars were sold. It is difficult to figure how many Americans bought new vehicles.
Cost of Car Ownership
Many factors go into the price of car ownership. The initial cost of buying a car is significant. This figure is not inclusive of maintenance, insurance, or gas.
According to the Bureau of Labor Statistics , the average American spends $4.394 to purchase a vehicle . An average American spends $2,094 on gasoline and motor oils, and $4,254 each year on maintenance. Total annual cost of car ownership is $10.742.
Another way to calculate the cost is in terms of miles driven and vehicles. The American Automobile Association gives figures for both.
A 2019 small sedan will cost you 60.6 cents a mile to drive 10,000 miles per annum. A medium sedan costs 74.9c/mile, while a large sedan runs 90c/mile.
The cost per kilometer drops if your car is driven for a longer duration. The cost of driving a small sedan for 15,000 ml per year is 47.4 cents/mile. However, driving longer distances may result in higher long-term insurance premiums and maintenance costs.
The most recent facts about the Automotive Industry
The automotive industry is surviving. Nearly three millions Americans work in this industry. Most work in dealerships or small stores.
They usually earn about $25 an hour. The popularity of electric vehicles is expected to explode over the next few decades, opening up the possibility for new companies.
But vehicle production is dropping. The pandemic is impacting sales rates, even for commercial vehicles. Some potential buyers might be discouraged by high costs of ownership.
Industry is changing rapidly, so you need the latest facts. Follow our coverage and keep up to date with cars.