Automotive Parts Suppliers

Automotive Industry faced a serious decline in production in last few years resulting in concurrent decline in production of vehicle parts. Unfortunately the production and consumption of vehicle parts made in the U.S. declined more sharply than total sales of vehicles primarily because due to economic recession, people moved from big trucks and SUVs to smaller passenger cars. As consumption at home declined, exports of automotive parts increased dramatically from $42.7 billion in 2009 to $58.1 billion in 2010. At the same time imports of vehicle parts also increased as U.S. automobile companies started importing cheaper parts from Mexico, Canada, Germany, Japan and China. The combined imports from all these countries accounted for 78% of automotive vehicle parts imports. China was the most sought after country as imports from China for vehicle parts increased some 35%.

Suppliers in the U.S. faced a very challenging time during 2009...
[ View Full Essay]