This Morning in Metals: Biden releases details of $2T American Jobs Plan
This morning in metals news: President Joe Biden unveiled details of the $2 trillion investment toward the American Jobs Plan; meanwhile, J.D. Power and LMC Automotive recently released their automotive sales forecast for March; and, lastly, Ford yesterday announced its first-ever integrated sustainability and financial report.
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Biden reveals details of American Jobs Plan
This week, President Joe Biden unveiled details of his American Jobs Plan, which will include an investment of $2 trillion.
Furthermore, the plan seeks to revitalize the manufacturing sector, improve US infrastructure, and modernize water delivery systems and electrical grids, among other goals.
“The American Jobs Plan is an investment in America that will create millions of good jobs, rebuild our country’s infrastructure, and position the United States to out-compete China,” the White House said. “Public domestic investment as a share of the economy has fallen by more than 40 percent since the 1960s. The American Jobs Plan will invest in America in a way we have not invested since we built the interstate highways and won the Space Race.”
We have covered the various supply chain and shipping issues that have hampered operations over the last year. Part of the Biden plan calls for improvement of US ports, waterways and airports, including $25 billion for airports.
J.D. Power, LMC Automotive release March sales forecast
Automotive intelligence firms J.D. Power and LMC Automotive recently forecast US automotive retail sales in March would finish up 70.7% compared with March 2020. Furthermore, sales would be up 9.2% compared with March 2019.
In addition, the firms forecast new-vehicle retail sales in Q1 2021 would reach 3.16 million units. That figure would mark an increase of 20.5% from Q1 2020 and 4.7% from Q1 2019.
Ford releases first integrated financial, sustainability report
As electrification continues, many automakers are touting steps taken along the way.
This week, Ford Motor Co. announced the release of its first-ever integrated financial and sustainability report.
Furthermore, the automaker also announced new “science-based targets” toward its goal of carbon neutrality by 2050.
“The targets – to reduce Scope 1 and 2 greenhouse gas emissions from operations 76% from 2017, and Scope 3 GHGs from use of the company’s products 50% from 2019, both by 2035 – were recently approved by the Science Based Targets initiative,” Ford said in a release.
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