U.S. government-released statistics unveiled Wednesday showed manufacturing built off of December’s impressive gains with another uptick. And much of the credit goes to the automotive industry, which looks healthier than in years heading into the core of 2012.
Though overall industrial production was unchanged in January, manufacturing itself performed well yet again. A big part of that stems from the 6.8% gain posted by the index specifically tracking motor vehicles and parts manufacturing. That after the December result was upwardly revised to 3.8%. As loud as any time since the U.S. government bailed out two of the “Big Three” domestic automakers, the industry and those who rely on it have declared as loudly as ever in the newest statistics that the auto rebound is on.
Jim Gillette, an auto industry analyst with IHS automotive, believes parts suppliers and auto-makers are well positioned moving forward, not just because of streamlining business models during the recession, but because people who have put off car purchases can only continue that frugality for so long:
“Cars and trucks on the road are as old as they’ve ever been."
(Note: For more on this story, check out this week's NACM eNews, out later this afternoon).
Brian Shappell, NACM staff writer