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U.S. Consumers Say Auto Industry is Essential, Innovative, Growing

The automotive industry had its share of depression during and even after the Great Recession. But many Americans today believe that the industry is very important in U.S. economic growth and believe it will continue to thrive, a nationwide survey shows.

According to a survey conducted by Penn Schoen Berland (PSB), 58 percent of U.S. consumers see the automotive industry to move further ahead. The exact number of respondents also said that the industry is a key driver of innovation.

“What is most surprising in this data is that the automotive industry – which less than five years ago was struggling with declining sales, bankruptcy, government bailouts, and quality issues – is today seen by nearly 6 in 10 Americans as being a driver of innovation,” PSB President Billy Mann said in a statement.

Further, 46 percent agreed that the auto industry is a growth industry or an economic sector that has been experiencing above-average growth rate. No wonder majority of the consumers described the industry as essential, innovative and growing.

Meanwhile, most consumers are very optimistic about other industries, too, like technology, telecommunications and energy. With 75 percent, the technology industry is the top growth industry. Along with energy and telecommunications industries, it is also seen by most consumers as a leader of economic growth for the next ten years.

The survey, conducted early January, had 1,000 U.S. consumers as respondents and was commissioned by Ford Motor Company.

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