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Automotive Tooling Study Shows Slow First Half and a Busy Second Half of 2018

Tuesday, July 24, 2018
 
Results of the Q2 2018 Automotive Tooling Barometer by The Original Equipment Suppliers Association, Troy, MI, and Harbour Results, Inc. (HRI), a market-research firm in Southfield, MI, shows that the tooling industry experienced a slower-than-predicted first half of 2018 with a significant amount of business pushed to the second half.

“Our original forecast called for 2018 North American vendor tooling spend to be $11 billion, however, due to a number of factors including shifted or cancelled product launches, we are now expecting it to be closer to $8.5 or 9 billion, with the remaining $2 million shifting to 2019,” says Laurie Harbour, president and CEO of HRI. “We saw a record year in 2017 with tooling spend just over $10 billion and now automakers are focused on launching the vehicles they built tools for in 2016 and 2017.”

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