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Released June 10, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--As Americans plot their summer driving plans amid heretofore unseen temperatures, automotive and auto-part manufacturers are preparing to tune up operations at their plants, which produce everything from trucks to tires to transmission systems. Industrial Info is tracking more than 240 maintenance-related projects at automotive and parts facilities across the U.S. that are set to begin in the third quarter.
Click on the image at right for a graph detailing the top 10 parent companies for maintenance-related projects at automotive and parts facilities across the U.S. that are scheduled to kick off from July through September.
Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) leads all other automakers in third-quarter maintenance kickoffs, with 16 projects totaling $18 million of investment. Indiana accounts for four of these, totaling $5 million: a 410,000-vehicle-per-year assembly plant in Lafayette; a brake-manufacturing plant in Terre Haute; a body component-manufacturing plant in Seymour; and an auto-stamping plant in Vincennes. Each of the four projects is expected to run for about one week within July.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed reports on the Lafayette, Terre Haute, Seymour and Vincennes projects.
Auto-stamping upkeep is driving much of Magna International Incorporated's (NYSE:MGA) (Aurora, Ontario) $7.25 million in maintenance projects in the coming quarter, including five stamping plants each slated for a week's maintenance in July: in Williamsburg, Iowa; Victor, Iowa; Clinton, Tennessee; Birmingham, Alabama; and Bowling Green, Ohio. Magna has been upping its production of components for electric vehicles (EVs) in recent years, such as the electric-battery tray side panels it recently added to its product offerings in Williamsburg.
"When we think about EVs, we have strategy depending on product group," said Pat McCann, the chief financial officer of Magna, in a recent earnings-related conference call. "So, if you start thinking about higher capital-type programs, whether it's a battery tray or a frame, we're making decisions now for the next three years." He added: "EVs are coming, and it's a matter of picking the right platforms and the right customers." Subscribers can read detailed reports on the projects in Williamsburg, Victor, Clinton, Birmingham and Bowling Green.
Bridgestone Corporation (Tokyo, Japan) is scheduling normal inspections and repairs at five of its tire-manufacturing facilities across the U.S., most of which offer products specialized to certain corners of the auto market: a 29,700-unit-per-day tire plant in Graniteville, South Carolina; a 5,000-unit-per-day inner tube plant in Russellville, Arkansas; a 35,000-unit-per-day off-road radial tire plant in Trenton, South Carolina; an agricultural tire plant in Des Moines, Iowa; and a steel cord plant in Clarksville, Tennessee.
In a recent earnings call, Shu Ishibashi, the chief executive officer of Bridgestone, acknowledged North American sales had been weaker than expected in 2023, but said demand from second-quarter 2024 onwards "is expected to recover and exceed the prior year by close to 10% for the year. Sales will also prove to be challenging in the first quarter, but increase over the year. We aim to slightly increase market share for new tires and expand our [truck and bus tire] business, retread included." Subscribers can read detailed reports on the projects in Graniteville, Russellville, Trenton, Des Moines and Clarksville.
Although a titan within the industry, Ford Motor Company (NYSE:F) (Dearborn, Michigan) is looking at just four maintenance projects in the coming quarter, including two major facilities in Ohio: its assembly plant in Avon Lake, which produces the F-650 and F-750 medium-duty trucks, and a transmission plant in Sharonville, which produces 6R140 and 10R80 finished transmissions. Subscribers can read detailed reports on the Avon Lake and Sharonville projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for maintenance-related projects in the U.S. automotive sector that are set to kick off in the third quarter.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 parent companies for maintenance-related projects at automotive and parts facilities across the U.S. that are scheduled to kick off from July through September.Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) leads all other automakers in third-quarter maintenance kickoffs, with 16 projects totaling $18 million of investment. Indiana accounts for four of these, totaling $5 million: a 410,000-vehicle-per-year assembly plant in Lafayette; a brake-manufacturing plant in Terre Haute; a body component-manufacturing plant in Seymour; and an auto-stamping plant in Vincennes. Each of the four projects is expected to run for about one week within July.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed reports on the Lafayette, Terre Haute, Seymour and Vincennes projects.
Auto-stamping upkeep is driving much of Magna International Incorporated's (NYSE:MGA) (Aurora, Ontario) $7.25 million in maintenance projects in the coming quarter, including five stamping plants each slated for a week's maintenance in July: in Williamsburg, Iowa; Victor, Iowa; Clinton, Tennessee; Birmingham, Alabama; and Bowling Green, Ohio. Magna has been upping its production of components for electric vehicles (EVs) in recent years, such as the electric-battery tray side panels it recently added to its product offerings in Williamsburg.
"When we think about EVs, we have strategy depending on product group," said Pat McCann, the chief financial officer of Magna, in a recent earnings-related conference call. "So, if you start thinking about higher capital-type programs, whether it's a battery tray or a frame, we're making decisions now for the next three years." He added: "EVs are coming, and it's a matter of picking the right platforms and the right customers." Subscribers can read detailed reports on the projects in Williamsburg, Victor, Clinton, Birmingham and Bowling Green.
Bridgestone Corporation (Tokyo, Japan) is scheduling normal inspections and repairs at five of its tire-manufacturing facilities across the U.S., most of which offer products specialized to certain corners of the auto market: a 29,700-unit-per-day tire plant in Graniteville, South Carolina; a 5,000-unit-per-day inner tube plant in Russellville, Arkansas; a 35,000-unit-per-day off-road radial tire plant in Trenton, South Carolina; an agricultural tire plant in Des Moines, Iowa; and a steel cord plant in Clarksville, Tennessee.
In a recent earnings call, Shu Ishibashi, the chief executive officer of Bridgestone, acknowledged North American sales had been weaker than expected in 2023, but said demand from second-quarter 2024 onwards "is expected to recover and exceed the prior year by close to 10% for the year. Sales will also prove to be challenging in the first quarter, but increase over the year. We aim to slightly increase market share for new tires and expand our [truck and bus tire] business, retread included." Subscribers can read detailed reports on the projects in Graniteville, Russellville, Trenton, Des Moines and Clarksville.
Although a titan within the industry, Ford Motor Company (NYSE:F) (Dearborn, Michigan) is looking at just four maintenance projects in the coming quarter, including two major facilities in Ohio: its assembly plant in Avon Lake, which produces the F-650 and F-750 medium-duty trucks, and a transmission plant in Sharonville, which produces 6R140 and 10R80 finished transmissions. Subscribers can read detailed reports on the Avon Lake and Sharonville projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for maintenance-related projects in the U.S. automotive sector that are set to kick off in the third quarter.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
