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Automotive Tooling Study Shows Slow First Half of 2018; Indicators Point to Busy Second Half

Monday, October 1, 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, show 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 now are expecting it to be closer to $8.5 or 9 billion, with the remaining $2 billion 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.

 

See also: Harbour Results Inc.

Related Enterprise Zones: Tool & Die


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