U.S. auto parts exports rose by $1.48 billion in the third quarter as the falling dollar made U.S. goods cheaper abroad, according to corrected Department of Commerce data.
Automotive News, citing Commerce data that turned out to be wrong, reported Dec. 3 that exports of auto parts had declined substantially compared with the third quarter of 2006.
For all of 2007, Automotive News estimates that U.S. auto-parts exports will rise 6.2 percent to about $62.5 billion compared with 2006. Based on the faulty Commerce data, the Dec. 3 story had predicted a decrease for 2007.
According to the revised information from the Commerce Department's Office of Aerospace and Automotive Industries, third-quarter auto parts exports rose 10.7 percent from the same period a year earlier. Exports of original equipment and aftermarket vehicle parts reached $15.29 billion, from $13.81 billion a year earlier.