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Despite Automotive Uncertainty, Harbour Results is ‘Bullish’ on Tooling Future

November 1, 2023

A new forecast sees optimism for the North American automotive tooling, with OEMs continuing to spend on new programs throughout the rest of the decade. With labor strife as a backdrop, MetalForming in late October attended the Automotive Tooling Outlook, presented by Harbour Results Inc. at a MEMA-The Vehicle Suppliers Association conference and then in a Harbour Results webcast. In a word, Laurie Harbour, president and CEO of Harbour Results, is “bullish” on tool spend.

The current Harbour Results amended forecast sees North American die and mold spend for automotive totaling $5.1 billion in 2023, $7.4 billion in 2024, $6.2 billion in 2025 and $6.3 billion in 2026. New launches will drive tooling demand, with 47 launches planned for 2023, 64 for 2024, 48 for 2025 and 63 for 2026, according to Harbour.

“OEMs will conduct product development next year for vehicles that come out in 2025-2027, when the economy should return to a level of robustness,” she says. 

Also, battery electric vehicles (BEVs) will make an increasing impact, Harbour reports, though she envisions some program delays.

“The cost impact, particularly for the Detroit Three, will force the spreading out of some of these BEV programs and continuing renewal of internal-combustion-engine (ICE) products,” Harbour reasons, “as ICE is where these OEMs make a lot of their margins.”

Nonetheless, expect to see a tremendous amount of spend and number of tools on the horizon for BEVs.

For more numbers from Harbour’s forecast, and the nuance behind those numbers, see MetalForming’s full forecast recap.

Industry-Related Terms: Die
View Glossary of Metalforming Terms


See also: Wipfli LLC

Technologies: Management, Tooling


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