Electric vehicles (EVs) have become increasingly common in recent years, with the number of battery electric vehicles (BEVs) on U.S. roads growing from fewer than 100,000 in 2012 to over 2.1 million in 2022 [d9faf95d]. This trend is expected to continue, with forecasts indicating that 50% of vehicles on the road by 2040 will be electric [d9faf95d]. The automotive manufacturing industry is experiencing a significant impact from the rise of electric vehicles. The sector has seen substantial job growth, with the number of workers employed in the vehicle industry increasing by more than 33% since 2013 [d9faf95d]. In addition, the automotive industry’s contribution to manufacturing output has reached $183 billion, making up 6.3% of the sector’s output and 0.7% of total U.S. output [d9faf95d]. Most of the factories and assembly lines are concentrated in the “Auto Alley” region, stretching from the Great Lakes to the Gulf Coast. Any shifts in the industry will have a meaningful impact on both the regional economies dependent on these plants and the overall U.S. economy.
The transition to electric vehicles presents both opportunities and uncertainties. On one hand, the demand for EVs has prompted car manufacturers to build new factories, expand existing ones, and hire additional workers. This has led to job growth and economic gains in certain regions. For example, Toyota’s battery factory in Randolph County, North Carolina, is expected to create 2,100 new jobs and significantly boost the local economy [d9faf95d]. On the other hand, there are concerns that the shift to EVs could lead to a net loss of jobs in the auto sector. The relative simplicity of assembling EVs compared to internal combustion engine vehicles may result in reduced labor requirements. This concern has driven the demands of the United Auto Workers (UAW) in negotiations with automakers and was a significant factor in the recent UAW strike [d9faf95d]. While the long-term impact on jobs remains uncertain, the heavy investment in electric car manufacturing, particularly in battery production, presents economic opportunities for regions that can attract automotive employers. Furthermore, the increased demand for EVs can have positive spillover effects on service-industry businesses, creating additional jobs in the local economy. Overall, the transition to electric vehicles is reshaping the automotive manufacturing industry, with both positive and uncertain implications for job growth and regional economies. As electric vehicles become more prevalent, the industry will continue to evolve, creating new challenges and opportunities for manufacturers and workers alike.
The F&I office has undergone a digital revolution, leaving behind cumbersome approval procedures and traditional paperwork. One major development in the automotive industry is the progress made in negotiations between the United Auto Workers (UAW) and Detroit-Three automakers. Despite concerns of inventory constraints due to the UAW strike, new car supply actually improved in September. Labor strikes, interest rate hikes, and political instability have not hindered job growth in the U.S. economy. Tesla has responded to disappointing third-quarter deliveries by slashing prices on its Model 3 and Model Y vehicles. The U.S. Treasury Department has proposed new guidance for point-of-sale discounts on electric vehicles. In the world of automotive dealerships, correcting mistakes in the F&I process is crucial. The pandemic has accelerated the adoption of digital retailing experiences in the used car marketplace. The F&I office has embraced digitization, personalization, and efficiency, leaving behind the outdated practices of the past. The automotive industry continues to navigate negotiations, supply challenges, and economic factors, while dealerships strive to improve customer experiences through digital advancements. [d936e05d] [d9faf95d] [e9807d9d] [2c9410e8]
The Washington Post discusses the debate over removing AM radios from new electric vehicles [d71f3209]. Automakers are starting to remove AM radios as standard equipment from new electric vehicles due to the fuzzy sound caused by electric motors and the declining popularity of AM. However, there are concerns about the impact on emergency alerts, as the Federal Emergency Management Agency relies on AM to transmit these messages. A bipartisan bill in the Senate aims to require car manufacturers to maintain AM broadcast radio in new vehicles. The article argues that while AM radio may be outdated, it still serves a vital role in reaching everyone, especially during emergencies. The loss of AM in cars could lead to the eventual demise of AM radio altogether. The article also highlights the importance of AM radio to rural America, right-wing talk shows, agricultural information, and programming for immigrant audiences [d71f3209].