The US is exporting cars at a record pace, but the good times may not last forever.
As the world recovers from the economic recession, global automakers are also working to get back on their feet. And despite that whole bankruptcy thing involving GM and Chrysler, American automakers are now doing especially well. According to a new report, the number of exported US vehicles is expected to reach as high as 2 million units this coming year. And get this: more than half of that number is expected to come from the factory floors of Ford, GM and Chrysler.
The remaining amount will be from German, Korean, and Japanese brands that have US production plants. Last year, $132.7 billion came from about 1.8 million exported vehicles. Those numbers have increased for 2013. Roughly half of those vehicles were sent to Canada and Mexico, but the biggest market for the US is China, where exports have grown some 600 percent since 2009. Today, one in nine exported US vehicles goes to China. Automakers are also building cars, such as the new Mustang, to meet global safety standards. However, this US car export pace may be short lived because automakers are currently building new plants in Brazil, Russia, India and China as part of a "build where you sell" mentality.