With auto sales down as much as 40 percent, it can feel to some like the industry is coming apart. But a "revolution in fasteners" may soon help bridge the gap to greener vehicles, while increasing sales and lowering recall and warranty rates.
"We're at the beginning of a fastener revolution in automotive," says Ray Genick, Director of New Business Development and former VP of Engineering at Emhart Teknologies, a leader in the design and creation of unique assembly technologies. "It's being driven not only by a need to lower recall and warranty costs, but also to raise fuel efficiency while reducing weight and environmental impact."
A new report, which profiles Emhart Teknologies and other industry leaders, forecasts a growing automotive fastener market to reach $12.2 billion by 2012.
"Automotive fasteners assume high significance owing to the increasingly complex nature of vehicular designs, which is expected to necessitate stronger, improved, and durable fasteners," states a news release called "Automotive Fasteners: A Global Strategic Business Report," published by Global Industry Analysts, Inc., one of the world's largest market research publishers.