New Lightweight Vehicle Door

By on May 19, 2019 in IN THE NEWS

Industry experts expect the lightweight automotive materials global market to grow more than 6 percent and be a worth $110.5 billion by 2023. A factor in this growth is the push to increase fuel economy and meet the EPA mandate for vehicles to meet 50 miles per gallon by 2025. Even lowering that goal by the Trump administration will not keep automakers from increasing fuel economy. Why? Their customers are demanding it.

Megan Ray Nichols writes in BOSS that “Creating a lighter and more cost-effective car isn’t just good for consumers. It’s becoming a necessity in the automotive industry. The average percentage of household income spent on a monthly car payment has dropped 40 percent in the last 30 years, from 12.5 percent in 1980 to over seven percent today. On the manufacturing side of things, this means it’s up to car companies to create more cost-effective models that still allow them to make a profit on each sale.”

Another factor in carmakers turning to lightweight materials is globalization. Nichols points out that “Most car manufacturers once resided in a very narrow global niche, but to continue to succeed, they will need to expand. General Motors is an excellent example of this. Solely an American company, GM has extended its borders, investing in some different international car companies like Suzuki in Japan, Saab in Sweden and Vauxhall in the UK.”

Even if the EPA lowers its miles-per-gallon, other countries where U.S. manufacturers want sales will not.