How the Ailing US Economy is Affecting Its Automobile Manufacturers

The health of the US economy is directly proportional to the health of the automobile industry and the well being of the automobile manufacturers. The automobile manufacturing industry happens to be the country’s largest manufacturing base. Approximately 4% of the GDP of U.S.A comes from the automobile manufacturers. According to recent reports by the alliance of automobile manufacturers, out of every 10 U.S. jobs, or about 13 million, is auto-related, and auto workers receive $335 billion annually in compensation.The clouds of the economic crisis engulfed the automobile manufacturers in September 2008 when the auto industry reported a loss of $9 billions in US sales as compared to the sales in September 2007. The industry fears further losses in the coming months if the situation prevails.The economic turmoil is affecting auto consumers and communities in a chain reaction and every sector seems to be connected to one another in this crisis. As the demand nose dives, automobile manufacturers are forced to cut down on supply, which further results in less work for assembly-line workers. Fewer parts are needed from the suppliers which are the ancillary industries and workers buy less and less which results in the lack of demand for consumer goods. This eventually forms a vicious cycle engulfing the entire consumer economy. Automobile manufacturers can thus make or break the US economy.Here are some facts and figures that bring the real picture to us:o An ailing auto industry can really hurt the financial sector further as more than 90% of the new vehicles are purchased on credit.o Major purchases like automobiles really matter for the economy.o Reports have confirmed the fact that consumers are finding it more and more difficult to get loans for automobiles.o Rising delinquencies in auto loans are hurting the automobile manufacturers further.o About 1000 dealers closed their businesses closed their businesses, in September 2008 and more are on the way (CNW).o Autos sales contribute more than $10 billion dollars of annual tax revenue every year. A drop in auto sales invariably hurts state budgets too.o By the end the 3rd quarter, almost 100,000 automotive jobs were reportedly cut.The recession is a stark reality for the automobile manufacturers however they have not lost their optimism. They have supported the 2007 Energy Bill, which requires a 40% increase in fuel economy by 2020. The automobile manufacturers have now joined hands to develop and introduce more fuel-efficient technology.

Automobile Jobs

Automobile jobs may be available in any city, county or state. Automobile jobs offer a great career in the country as world’s best automobile manufacturers and sellers operate from different cities in USA. Automobile jobs may be about marketing, selling, finance, repair, manufacturing, servicing, and resale of automobiles. Marketing jobs require meeting specific periodic targets of sales of automobiles.Finance jobs in this sector require knowledge of interest rates, finance facilities and formalities, customer expectations as well as product knowledge. Repair or service jobs typically require working knowledge or understanding of technicalities associated with an automobile.Different jobs in the automobile industry require different levels of knowledge about automobiles. Typical jobs in this area may be titled as automobile engineer, automobile consultant, mechanical engineer, four wheeler sales consultant, auto finance assistant, auto finance manager, auto consultant, auto adviser, auto finance adviser etc.Applicants may have an associate’s degree or a bachelor’s degree in order to be considered for most marketing jobs in the field. For manufacturing or service jobs, applicants may have a technical degree like a bachelor’s degree in mechanical engineering or automobiles engineering. Excellent academic credentials may be required for engineering or manufacturing positions. Excellent communication skills and interpersonal ability are essential for most tasks today. Prior experience in a similar role may be advantageous. For sales jobs, a commission may be available on sale of automobiles. Most positions require a driver’s license.Government organizations may carry out criminal background check of candidates before employment. Proficiency in using computers and relevant software is essential. Employment opportunities may be on regular or on contract basis. Some jobs might be temporary in nature. Some employers may offer training opportunities to students in automobile engineering. For manufacturing positions, candidates might have to work in shifts. Automobile jobs are highly paid and make a great career.