Free press releases distribution network?

Agency / Source: MAYO Communications

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Los Angeles County Economic Development Corporation Study Reveals Hidden Auto Market - This multi-faceted industry includes design and marketing as well as local car sales - LAEDC
Los Angeles County Economic Development Corporation Study Reveals Hidden Auto Market

 

PRZOOM - /newswire/ - Los Angeles, CA, United States, 2006/10/17 - This multi-faceted industry includes design and marketing as well as local car sales - LAEDC.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Automotive/Trucking/RV Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

While media attention is focused on the problems facing the traditional, Detroit-based U.S. auto industry, there’s another U.S. auto industry hub based in the Los Angeles area. According to the Los Angeles County Economic Development Corporation (LAEDC), this industry is thriving, generating billions of dollars in business activity as well as creating high quality jobs. However, neither residents nor outsiders truly understand the vast benefit of this activity.

The LAEDC’s new report, “The Automotive Industries in Southern California,” highlights the wide variety of activities taking place. They include the North American headquarters of eight foreign auto makers, including Toyota (celebrating the 50th anniversary of their operations in the U.S. in 2007), Honda and Hyundai. Classified by government statisticians as “wholesalers,” these firms employ nearly 15,000 people and generated nearly $45 billion in sales in Los Angeles County alone.

Supporting the auto makers are 14 research, design and development facilities in Southern California, plus two proving grounds. In the works are Honda’s Advanced Design Studio and Acura’s Design Studio. Also, there is a variety of car customization activities as well as manufacturers of aftermarket equipment.

Why Southern California? The attractions include the Art Center College of Design in Pasadena, which is well known for its auto design program, as well as the creative talent in the region spawned by the film and aerospace industries. Finally, there is the long standing “car culture” of Southern California. A good indicator of this car culture is the large number of auto magazines published locally.

The LAEDC study reported that retail sales of new and used cars and light trucks in Southern California totaled over $33.1 billion in 2004, while automotive parts sales added another $2.4 billion.

Some other facts about the auto industries in Southern California include:

- There are 1.2 vehicles per licensed driver (some of these are specialty vehicles not intended for every day use)
- In California, 53.8% of the new car market is held by imported brands. Toyota/Scion has the lead, with a 23.4% market share
- The three local ports – Long Beach, Los Angeles and Hueneme -- handled 9.8 million vehicles in 2005, of which 94% were imports
- While people elsewhere in the nation may not realize it, they “see” Los Angeles County everyday in TV commercials for automobiles, with Downtown Los Angeles a very popular location due to its bridges and tunnels.

The LAEDC study noted some challenges to the region’s auto industry. These include the move of Nissan’s North American headquarters to Tennessee, driven by an effort to cut costs and facilitated by very large incentives offered by that state to lure the operation. Another risk is the effort by domestic U.S. auto makers to pare back their dealer operations. Many sell a small number of vehicles per month, which results in poor operating margins. This could be bad news for cities that lose such a dealership.

“Leaders in Los Angeles need to pay a little more attention to this industry, because of the multiple benefits it yields,” said Senior Vice President Jack Kyser, chief economist, LAEDC. “Tennessee clearly recognized them. The auto industry is also a component of Southern California’s unique collection of industries driven by creativity.”

“The sizable automobile industry in Los Angeles County is one more reason this region has become the Business Capital of America,” said LAEDC president and CEO, Bill Allen. “We recently recognized Toyota with an Eddy Award for their influential role over the past five decades in making our region the international car culture capital of the world.”

About the LAEDC

The LAEDC, the region’s premier business leadership organization, is a private, non-profit organization established in 1981 under section 501(C)(3). Our mission is to attract, retain, and grow business and jobs in Los Angeles County. Since 1996, the LAEDC has helped retain or create more than 122,680 jobs, providing $5 billion in direct economic impact from salaries and $83 million in annual tax revenue benefit to Los Angeles County.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Automotive/Trucking/RV Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: MAYO Communications

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Automotive/Trucking/RV articles,
CATCH Visitors via Your Competitors Announcements!


Los Angeles County Economic Development Corporation Study Reveals Hidden Auto Market

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: George Mc Quade - MayoCommunications.com 
818-340-5300 PR[.]mayocommunications.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MAYO Communications securities in any jurisdiction including any other companies listed or named in this release.

Automotive/Trucking/RV via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From MAYO Communications / Company Profile


Read Automotive/Trucking/RV Most Recent Related Press Releases:

Hitachi Joins Shell Eco-marathon to Help #MaketheFuture
First MAN TGX PerformanceLine Edition Delivered - No 001 For BFS/Stegmaier Group
New Business Models and Service Expansion in European Automotive Aftermarket eRetail Strengthen Growth Opportunities Finds Frost & Sullivan
Vehicle Parc and Market Dynamics Transform KSA Automotive Aftermarket, Forcing Vendors to Change Their Business Approach
First MAN TGX EfficientLine 3 Goes to Spedition Hillert
NEOPLAN Tourliner Wins iF Design Award 2017
Field Testing the New MAN Six-cylinder Naturally Aspirated Engine for Cogeneration Systems
Turkish Medium- and Heavy-duty Truck Manufacturers to Increase Production Volumes and Quality to Meet Evolving User Demands Finds Frost & Sullivan
MAN Truck & Bus Begins Selling The TGE
MAN Joins CharIN

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  NAKIVO, Inc.

Visit  BizJobs.com







 
  ©2017 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today