Study: Auto Industry Thriving in L.A. Area

Los Angeles finds itself as a center of automotive-related industries despite a difficulty in accurately knowing the economic impacts, a study released Monday by the Los Angeles County Economic Development Corp. has found. Support industries to vehicle manufacturing thrive in the area because of close proximities of ports, an environment of promoting creativity, educational institutions, and expertise in related fields, such as design innovations, and marketing and advertising, the 20-page report concluded. “Leaders in Los Angeles need to pay a little more attention to this industry, because of the multiple benefits it yields,” said Jack Kyser, senior vice president and chief economist for the LAEDC, in a statment “The auto industry is also a component of Southern California’s unique collection of industries driven by creativity.” Research centers and design studios are plentiful in the region with the San Fernando and Conejo valleys having their share. BMW: Designworks USA is located in Newbury Park; the General Motors Advanced Design Center is located in North Hollywood; and the Volvo Monitoring and Concept Center is located in Camarillo. Van Nuys was home to the last auto-manufacturing plant in the Los Angeles area, a GM facility that closed in 1992. Eight Asian carmakers have U.S. or North American headquarters in the Southland, although none located in the Valley, the report said. The study also found that as of 2005, the five-county area had more registered vehicles than licensed drivers. In California, more than half of the new car market is held by imported brands, with Toyota/Scion in the lead with a 23.4 percent market share, the study said.