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