Marketplace®

Daily business news and economic stories

Auto sale increase also boosts auto jobs

The steady increase in auto sales is also fueling a boom in auto employment—everything from dealerships, to auto suppliers and assembly plants

We’re getting auto sales numbers from August for the big-three U.S. car manufacturers. They’re all up — Chrysler, Ford, GM. All told, analysts are predicting auto sales have risen about 20 percent from a year ago.

With interest rates low and gas prices high, consumers are ready to buy newer, more efficient wheels, says auto analyst George Magliano at IHS Global Insight.

“Cars and trucks—the age of the vehicle fleet is eleven years—it’s the highest it’s ever been,” Magliano added, “and they’re not only wearing out at this point, they are becoming much more expensive to keep on the road.”

The steady increase in auto sales is also fueling a boom in auto employment—everything from dealerships, to auto suppliers and assembly plants. George Welitschinsky is president of UAW Local 1268 near Rockford, Illinois. The Chrysler plant there went dark back in 2009. Now, it’s cranking out Jeeps, and the new Dodge Dart.

“We’re running six days a week, 10 hour shifts of 20 hours a day,” Welitschinsky said. “This is the busiest it’s ever been.”

Welitschinsky says the number of workers punching in at the plant has doubled to around 4,500—just in the past six months.

Related Topics

Tagged as:

Latest Episodes

View All Shows
  • Marketplace
    3 hours ago
    26:08
  • Make Me Smart
    8 hours ago
    16:46
  • Marketplace Morning Report
    10 hours ago
    6:52
  • Marketplace Tech
    16 hours ago
    6:54
  • How We Survive
    3 days ago
    25:04
  • This Is Uncomfortable
    3 days ago
    26:12
  • Million Bazillion
    5 days ago
    7:35
  • Financially Inclined
    3 months ago
    12:30
  • The Uncertain Hour
    4 months ago
    22:50
  • Corner Office from Marketplace
    5 years ago
    20:58