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Making cars smarter: The growing role of electronics in automobiles
Electronics make up nearly 40% of the content of today?s average new automobile, and their share will continue to grow. On June 2, 2011, as part of the eighteenth annual Automotive Outlook Symposium (AOS), the Chicago Fed hosted a panel of experts at its Detroit Branch to examine the current and future roles of electronics in motor vehicles.
AUTHORS: Klier, Thomas H.; Rubenstein, James M.
The VW Scandal and Evolving Emissions Regulations
In September 2015, Volkswagen (VW) admitted to having programmed nearly 11 million of its diesel vehicles to cheat on tailpipe emissions tests. To put VW?s emissions rigging into a broader context, the authors review the different approaches that the U.S. and Europe have historically taken in regulating automotive emissions and fuel economy. Moreover, they discuss the scandal?s implications for regulatory changes in both regions.
AUTHORS: Linn, Joshua; Klier, Thomas H.
Economic Growth to Decelerate in 2019 and Then Ease Further in 2020 as Auto Sales Downshift
According to participants in the Chicago Fed?s annual Automotive Outlook Symposium (AOS), the nation?s economic growth is forecasted to slow this year and then moderate close to its long-term average in 2020. Inflation is expected to decline in 2019 and to edge higher in 2020. The unemployment rate is anticipated to move down to 3.6% by the end of 2019, but then tick back up next year. Light vehicle sales are predicted to decrease from 17.2 million units in 2018 to 16.8 million units in 2019 and then to 16.6 million units in 2020.
AUTHORS: Strauss, William A.; Sarussi, Kelley
Auto Production Footprints: Comparing Europe and North America
Today?s footprints of motor vehicle production1 in Europe and North America appear at first glance to be remarkably similar: In both regions, plants producing motor vehicles are highly agglomerated, which is typical of manufacturing activities. The auto industry is a global industry: A dozen or so mass producers compete with one another around the world. Because these automakers employ similar production models in their plants, one might expect similar forces to shape their production location decisions. This article evaluates whether the same general factors explain the broad patterns seen in the auto industry?s footprints in Europe and North America. This question is of particular interest because to date, little comparative analysis of this kind has been performed, especially involving Europe as a whole. In general, most auto industry analysis of Europe has focused on its individual countries instead of the entirety of the region.
AUTHORS: Klier, Thomas H.
Economic Growth to Accelerate in 2018 and Then Ease in 2019 as Auto Sales Downshift
According to participants in the Chicago Fed?s annual Automotive Outlook Symposium (AOS), the nation?s economic growth is forecasted to improve this year and then moderate close to its long-term average in 2019. Inflation is expected to increase in 2018 and to pull back in 2019. The unemployment rate is anticipated to decrease to 3.8% by the end of 2018, but then tick back up next year. Light vehicle sales are predicted to decrease from 17.2 million units in 2017 to 17.0 million units in 2018 and then to 16.7 million units in 201
AUTHORS: Strauss, William A.; Haasl , Thomas