Tennessee’s automotive industry continues to be our State’s largest and strongest industrial sector. In 2014, more than 40 companies announced automotive-related projects which translated to 8,000-plus new jobs and approximately $1.5 billion in new capital investment. Not a bad year as our OEMs (original equipment manufacturers) and existing and new suppliers all announced that Tennessee was the right place to grow their business.
Overall, automotive experts were rather positive as people continued to buy cars in 2014 (many of those manufactured right here in Tennessee). As we look ahead to 2015, several headlines dominate the search under automotive trends:
- Changes in monetary policy- how this could impact car sales and the steady growth period
- New designs and vehicle launches- focus on quality and meeting consumer demands
- Continued emphasis on new lightweight materials to meet fuel economy standards- how will the new aluminum F-150 pickup compete in the marketplace?