2006 North American International Auto Show Economic Impact Projected Between $580 to $600 Million
DETROIT, Dec. 13, 2005 -- The economic impact of the 2006 North American International Auto Show (NAIAS) is projected to increase by 3 percent from last year, reaching between $580-$600 million, said David Sowerby, C.F.A., portfolio manager and chief market analyst at Loomis Sayles & Co.
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"The NAIAS covers two full weeks, plus the considerable assembly that begins in late October each year and the dismantling of the individual exhibits afterward. The NAIAS is consistently the number one contributor to business activity in Detroit due to the amount of time spent on its extensive set-up and execution," said Sowerby. "This year's intense competition in the auto industry has also inspired new display designs for 60 percent of the exhibits this year."
Among the most important factors that are expected to contribute to this year's total include:
* In 2006, the motor vehicle industry is again unveiling over 60 new models only at the NAIAS.
* Ticket sales for NAIAS 2006 Public Days, Industry Days and the Charity Preview are running significantly ahead of pace.
* Another strong year for travel, consistent with an expanding national economy, could lead to a gain in attendance. For example, major travel companies are witnessing 10 to 12 percent gains in revenue supported by rising income levels, improved labor markets and higher consumer confidence.
* Local area personal income growth is currently growing at a 4.5 percent pace. The rate of growth in personal income has a high correlation with the anticipated total economic benefit gains for the auto show.
* The aggressive incentive plans offered by the major auto producers, combined with the record product launches in the industry could generate higher interest in participating or attending the auto show.
"Many businesses, individuals and families rely on and benefit from the NAIAS each year," said Richard Genthe, senior co-chairman for the NAIAS 2006. "This year is going to be a significant revenue jump for southeast Michigan as NAIAS 2006 and the Super Bowl combined will bring in nearly $1 billion to metro Detroit."
NAIAS 2006 Official Dates
Press Preview Days will be held Sunday, Jan. 8, through Tuesday, Jan. 10, 2006. Industry Preview Days will be held on Wednesday, Jan. 11 and Thursday, Jan. 12, 2006. The Charity Preview will be held Friday evening, Jan. 13, 2006. The public is encouraged to call 888-838-7500 for more information about purchasing tickets to the 2006 Charity Preview. Public Days are Saturday, Jan. 14, through Sunday, Jan. 22, 2006.
The North American International Auto Show Rod Alberts - Executive Director
Entering its 18th year as an international event, the North American International Auto Show is among the most prestigious auto shows in the world, and is one of the largest media events in North America. The NAIAS is the only auto show in the United States to earn an annual distinguished sanction of the Organisation Internationale des Constructeurs d'Automobiles, the Paris- based alliance of automotive trade associations and manufacturers from around the world. The NAIAS Web site can be accessed at http://www.naias.com/ . Don't Miss It for the World!
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