Top 50 Ranking of German Firms in the U.S. - A Strong Recovery with Daimler Group Charging Ahead

May 4, 2011 - PRLog -- From New York, NY

Daimler has benefited from last year's boom in demand for premium automobiles in the United States. With a sales increase of over 22% (reported in Euro) Daimler ranks first in the new Top 50 Ranking of German Firms in the U.S. compiled annually by the German American Chambers of Commerce. German automotive and components firms reported strong growth. Volkswagen Group of America sold 21% more cars than in 2009. The new US VW Chief Jonathan Browning explains: “Our positioning within the market has improved with the introduction of our new models. We anticipate continuing growth in 2011, especially since we are now back in the U.S. with our own manufacturing plant in Chattanooga, Tennessee. “

2010 was a good year for the majority of German subsidiaries in the U.S.: Sales performance jumped by 6% from $265 billion in 2009 to $281 billion in 2010. Two thirds of the German subsidiaries reported increased sales in comparison to last year, while employment levels slightly increased. The 50 biggest German subsidiaries in the United States create approx. 426,000 jobs.

German subsidiaries weathered the financial crisis extremely well. They used financial instruments such as natural hedging or they pursued innovative personnel strategies. Stihl, Inc. – leading producer of chain saws – conducted an “in-sourcing initiative” in order to retain its highly-trained workforce.

Growth industries like the renewables sector continued to bring positive momentum to the U.S. market. Siemens, which ranks third, will build wind turbines for the country’s first offshore wind farm off the coast of Cape Cod, MA - a plan the U.S. government has just recently approved. Siemens will also contribute to the Obama Administration’s drive to strengthen the U.S. infrastructure. Large-scale investments in high-speed trains, rail and smart-grid projects, as well as energy efficiency are in the works nationwide. The Knorr-    Bremse Group, number 38 in the ranking, reported a 14% growth rate in its Rail Vehicle Systems division.

From the automotive to the renewable energy sector, there is again movement in the U.S. market and the German subsidiaries are well-positioned.

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About the German American Chambers of Commerce

The German American Chambers of Commerce (GACCs) in Atlanta, Chicago, Houston, New York, Philadelphia and San Francisco all work together under the network of AHK USA. With approximately 2,500 members and an extensive national and international business network, the GACCs offer a broad spectrum of activities and services. Other German-American organizations and chapter are affiliated with the GACCs. AHKs are closely connected to the Chambers of Industry and Commerce (IHKs) in Germany. The umbrella organization of the IHKs is the German Association of Chambers of Industry and Commerce (DIHK), which also coordinates and supports the AHKs.