The Economic Impact of General Motors in the United States
With a history stretching back more than 115 years, General Motors (GM) has deep-seated roots in Detroit, Michigan, with operations and a supply chain integrated into the United States and global economies. GM was the largest automotive manufacturer in the US in 2022. Oxford Economics’ report explores the jobs, GDP, and payments to government that GM supported, looking at the company’s own operations, its spending with suppliers, its investment programs, and its payment of wages to employees.
GM directly created nearly one quarter of the value of the US’s entire auto manufacturing sector, and its entire footprint supported $10 billion more GDP than the value of all of the US’s crop production in 2021. GM employed over 97,000 hourly and salaried workers, accounting for nearly 10% of the US’s automotive manufacturing labor force, and paid its workers 39% more on average than the national average for all transportation manufacturing workers.
In addition, GM has also been investing heavily in its internal combustion engine and electric vehicle technologies, positioning itself as a leader in the industry. Continued investment in more sustainable and innovative transportation solutions is expected to support jobs and value in communities across the US.
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The experts behind the research
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Alice Gambarin
Lead Economist, Economic Impact
Daniel Diamond
Senior Economist, Economic Impact
Hamilton Galloway
Head of Consultancy, Americas
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