Globally there was a 39.6% drop in automotive OEM and components projects, and a 62.7% drop in capital expenditure, according to greenfield investment data from fDi Markets. There has also been a shift in the function of these projects.
While manufacturing projects in this sector decreased, the number of projects involved in design, development and testing remained steady, and the number of logistics and transportation projects increased.
However, the US and Canada seem to be bucking the trend. There is also evidence of an increase in project numbers for Latin America and the Caribbean, with examples such as US car manufacturer General Motors investing $300m in a plant in San Luis Potosí, Mexico.