Automakers boost aluminum consumption

Aluminum sales to the auto industry may double as automakers increasingly use aluminum in new cars, to achieve lighter weight and therefore gain higher fuel efficiency, Novelis CEO Phil Martens told Dow Jones Newswires. Sales to automakers are expected to reach 15% of aluminum-sheet producer’s revenues by 2015, up from about 7% today. Aluminum is a lighter material  that could help automakers comply with fuel efficiency standards in the U.S. and Europe . “Aluminum is clearly becoming the material of choice for automakers,” said Martens. Novelis, owned by India’s Hindalco Industries Ltd., will spend US$200 million to expand production capacity in North America in line with increasing demand. (June 8, 2011)