Auto Industry Employment Back on the Rise
The U.S. auto industry is back in the swing of things. Industry-wide dealership profit has almost tripled from what it was in 2008.
Senior managing director at Guggenheim Securities LLC John Casesa explains the outlook of the auto industry. “This was always an excellent business, a resilient business, and now it’s just about in as good shape as it’s been in for decades.”
Casesa is right; some dealerships are seeing the highest profit of the past 5 years.
A hiring increase over the past 19 months has been seen at vehicle dealers and parts dealers across the country. As of February, the amount of employeed individuals in the automotive industry had jumped to 1.72 million from 1.61 million in 2010.
3,400 U.S. GM dealerships are currently undergoing renovations, with a total price tag of $3 billion.