April 2020

April 2020

Fed says manufacturing decline largest since 1946
Data released by the Federal Reserve in April showed that manufacturing in the U.S. has dropped to levels not seen since 1946, one year after the end of World War II. The low levels are due to so many manufacturers closing plants, including almost all automotive plants in April.

Missouri market puts together $1 billion package for Tesla Cybertruck factory
Joplin, Mo., has put together a package of incentives and savings to lure Elon Musk’s plant to build Cybertruck electric vehicles. The package includes a discount on a 1,042-acre site as well as a combination of state and local tax credits.

Japanese automakers furloughing workers in the Southern Automotive Corridor by the tens of thousands
Nissan and Honda are furloughing workers without pay at their plants in the South because of the coronavirus. In April, Nissan said it would furlough about 10,000 workers at its plants in Mississippi and Tennessee calling the move a temporary shutdown. Honda will furlough about 14,400 workers at its plants in the U.S. The furloughed workers will keep their benefits such as health care.

South Carolina automakers shut plants down
Volvo and BMW closed their plants in South Carolina in March until further notice. Volvo, which employs about 1,500 workers currently in Berkeley County and is in the midst of a major expansion to add a SUV line, saw its sales drop 31.2 percent in March worldwide. BMW, which houses about 11,000 workers at its plant in Spartanburg County, saw sales drop by 15.3 percent in the first quarter in the U.S.

Automotive supplier expanding in Alabama
Hayashi Telempu North America (HTNA), a Michigan-based supplier of automotive interior components, is expanding its plant in Walker County, Ala. The $7 million project will create 19 jobs.

Michael Randle

Author: Michael Randle