Earlier this month President Barack Obama took the time to visit metro Detroit and a Ford plant as the state of Michigan contained a historic comeback within the automotive industry.
Now, guest writing for the Detroit Free Press news aggregator, the US president further explained his decision to come and visit the heart of the US automotive industry – just days prior to his annual State of the Union address. With 2014 seeing the strongest job growth since the 1990s, with consistently low rates and an overall positive prospect for the economy the auto sales were buoyed by the confident customers. With an end tally of 16.5 million deliveries of new cars and trucks, the US market showcased its powerful comeback from the days of the 2008-2009 recession – when 400,000 jobs across the auto industry were being axed.
Today, both General Motors and the former Chrysler Group (today FCA US) are out of the government-assisted bankruptcy restructuring process and together with Ford are healthier than ever – with FCA US even pulling 57 consecutive monthly gains to record deliveries. The President further commended the automotive industry for being one of the most important industries in the US, with consumers gaining even more incentives to buy new cars as the country increases oil production and gasoline prices fall to record lows. The President also seems to support in its comments the upcoming fuel efficiency mandates that take charge from 2025, when the average corporate fuel economy of all auto manufacturers in the US will need to stand at 54.5 miles per gallon.