U.S. Automakers Gear Up for Projects After Delays
Researched by Industrial Info Resources (Sugar Land, Texas)--In order to keep pace with record sales, U.S. automotive manufacturers are attempting to ramp up production in spite of COVID-19 delays and semiconductor shortages, which have impacted production. April auto retail sales are expected to be the highest ever recorded, according to market research firm J.D. Power and Associates (Troy Michigan), doubling unit sales for the same period last year. Inventories are dwindling. If you've tried to buy a truck lately, you may have noticed that your choices are limited. Trucks and SUVs make up about 76% of sales currently.
This comes at a time when U.S. auto manufacturers are planning to retool manufacturing plants to get ready for the upcoming energy transition and new electric vehicle models.
Industrial Info is tracking $1.68 billion of automotive sector project starts planned for second-quarter 2021 in the U.S. Of these, 32 projects totaling more than $750 million are in the Great Lakes region, and 13 projects totaling more than $675 million are in the Mid-Atlantic region.
Included in these projects is a $380 million planned electric vehicle manufacturing plant in Indiana, which is being built in a facility previously owned by contract automotive manufacturer AM General (South Bend, Indiana).
If you are a subscriber to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing database platform, click here for a list of related projects.
Click on the image at right for a look at investments by market region.