U.S. vehicle exports are expected to hit a record high two-million units this year, with half of them produced by the Detroit 3.
The remainder of the exports come from German, Japanese and Korean automakers with plants in the U.S., with total automotive exports expected to exceed last year’s $132.7 billion that came from approximately 1.8 million vehicles. About half of the vehicles exported are to Canada and Mexico, but the biggest growth is coming from outside the U.S. Since 2009, exports to China have grown nearly 600 percent and one in nine vehicles exported from America now goes to China.
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Export growth is expected to be limited over the next few years as automakers continue to build assembly plants in countries where sales continue to grow such as Brazil, Russia, India and China. Meanwhile, Japanese automakers such as Honda hopes to export more cars from the U.S. than it imports from Japan.
The all-new 2015 Ford Mustang will join the list of vehicles being built in America and exported to other global markets. The assembly plant in Flat Rock, Michigan will be producing right-hand drive versions for the UK, Australia and Japan.
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[Source: The Detroit News]
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