Tag Archives: inflation

The remarks today are important to the US auto industry since it is responsible for a total of 10.3 million American jobs, or about 8% of private-sector employment as well as $650 billion in direct, indirect, and induced paychecks, according to the Alliance for Automotive Innovation*. More than $272 billion annually is contributed in the form of federal, state, and local tax revenues. This includes more than $70 billion in income taxes and $10 billion in corporate profit taxes.

Auto companies in our view need to demonstrate a degree of flexibility and speed of analysis and reaction that – much like the Covid Pandemic and Putin’s war against Ukraine – were not part of the usual operating procedures. Continue reading →