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Global Auto Capacity Spending Plunges by One-Third
Last year carmakers committed to invest US$15.6 billion (€12 billion) worldwide in building or expanding assembly plants, according to the University of Windsor's Office of Automotive & Vehicle Research.
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Last year carmakers committed to invest US$15.6 billion (€12 billion) worldwide in building or expanding assembly plants, according to the University of Windsor's Office of Automotive & Vehicle Research.
Such spending totaled $23.5 billion (€18.1 billion) in 2011 and $16.6 billion (€12.8 billion) in 2010, the Canadian researchers say.
Companies announced investments last year of $9.3 billion (€7.1 billion) to boost auto output capabilities in China, which has topped the university's spending tally since 2002. In the past four years, automakers have unveiled plans to invest more than $39 billion (€30 billion) on vehicle capacity in the country.
In 2012 year automakers also unveiled large spending plans for Mexico (€2 billion), Russia (€1.2 billion), Brazil (€718 million) and the U.S. (€384 million).
Companies announcing major capacity investments last year included General Motors (€2.8 billion), Chrysler (€1.2 billion), Nissan (€1.1 billion) and Ford (€922 million). European automakers committed to €3.1 billion in worldwide spending.
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