Federal Register - November 8, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 213 / Monday, November 8, 2021 / Notices
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Figure 11: U.S. Production and Imports of Light Trucks, Share of U.S. Sales 7
U.S.-oW!ll!d MammictureB :in U.S.
Foreign-owned iitcmrecs in U.S.
ill Imports from OtberCouotries
Source: Wards Intelligence InfoBank; Department of Commerce, Census Bureau. From 1998
2. Market Penetration by Automobile Imports Is Significant Automobile producers continuously strive to increase production scale to maximize profits. Indeed, scale is important because the enormous startup costs associated with the launch of a new production line must be amortized over substantial production and sales volumes in order to maximize revenue and minimize unit costs. As set forth in Appendix F, because automobile
producers headquartered in the EU, Japan, South Korea, and China are protected from import competition in their respective home markets, these foreign producers are able to utilize significant sales profits in those home markets to heighten production to levels in excess of volumes needed to supply their respective domestic markets.
Those firms consequently become increasingly export focused. Because the United States has the second largest
78 According to Wards Intelligence InfoBank, China is the largest consumer market for automobiles.
79 This represents nominal figures, which do not take into account inflationary and foreign exchange changes over time.
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automobile demand market in the world,78 imposes a low 2.5 percent tariff on imports of passenger vehicles, and has a strong economy that allows manufacturers to maximize profits, foreign automobile producers take advantage of the open U.S. market to unload excess production at significant financial gain. Figure 12 illustrates this point using the United States trade deficit in automobiles with Germany, Japan, and the rest of the world.79
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forward Chrysler is foreign-owned.
