Finally, we can now buy foreign products without the guilt of knowing that we are creating jobs on the other side of the planet. A study conducted by the Japanese Automobile Manufacturers Association (JAMA) has concluded that 70% of Japanese cars sold in the U.S. are built on North American soil.
The JAMA says that roughly seven out of ten Japanese cars, trucks, crossovers and SUV’s purchased in the U.S. are now produced in North American manufacturing plants. The first of theses plants was a Honda operation located in Marysville, Ohio which was built in 1982 and has been operating now for 30 years. Since this first plant was opened the JAMA estimates that 400,000 jobs have been created in North America thanks to Japanese automakers.
One of the main reasons for the strong surge in North American production for the Japanese companies is that the Yen is growing ever stronger, making it harder to turn a profit on cars produced in Japan. Toyota has even announced that it will be producing its line of Sienna minivans in the U.S. with plans to ship them to Korea, because that is actually more cost effective then building them back home.
The report does admit that the majority of the 400,000 jobs are at dealerships rather than factories, but also says that in 2010 there were 29 Japanese factories operating in the U.S. which totals an investment of $34 billion dollars.
Buying foreign over domestic? These days it seems not matter that much anymore.
[Source: The Detroit Bureau]