A new study conducted by IHS Automotive has concluded that the pace of the global auto industry’s expansion is expected to remain steady, with the increases in the near term harnessed by automakers and suppliers through their new flexible vehicle platforms.
The new trend towards the global alignment of future emission standards also triggered the development of new, more complex vehicle and process technology. Carmakers and their suppliers now introduce state of the art safety features, implement the wide usage of lightweight materials (eg. aluminum – Ford; carbon fiber – BMW) and strive towards emissions and fuel usage reductions.
“It’s an exciting time again for the automotive industry – in North America and globally,” said Michael Robinet, managing director, IHS Automotive. ”A swiftly changing industry, combined with a need for reduced logistics costs, is also driving the establishment of new and expanded supplier production facilities in strategic locations,” Robinet added.
The executive said the recovery that has spread worldwide is bringing unparalleled fresh energy to the global market. IHS Automotive predicts North American vehicle production is on track to reach 17 million units this year, with 87.7 million manufactured globally. The forecast goes to say that in 2021 production levels could climb to 18.5 million in North America and 106.3 million units worldwide.