Benefits

Benefits

Economic Value

AutoCRC collaborative research program will directly enhance the effectiveness of the R&D performed by the individual automotive companies. In 2001-02 automotive companies in Australia spent ~$500 million on R&D. Independent estimates indicate that the results of AutoCRC's collaborative research will make its industry partners advanced R&D 5-10 per cent more effective and open up new areas of product and process innovation.

The total value of production of the industry is approximately $15.5 billion pa. Allowing for bought-in components and materials the actual value added by the industry is about $7.5 billion annually. Taking into account the research program envisaged by AutoCRC independent economic modelling has shown that the increase in the rate of growth of productivity in the automotive industry will, by the final year of the CRC, lead to increased real GDP of around $600 million.

Social Value

The Monash University Accident Research Centre (a leading AutoCRC Participant) estimates that improvements in vehicle safety associated with an increase in the crashworthiness performance of vehicles could be between 1-2 per cent each year up until 2010. This equates to a substantial saving of human lives and serious injuries and a, from 12 to 23 per cent reduction in today's societal harm associated with vehicle crashes. This in turn is reduced costs of up to $2.25 billion over the next 7 years. If AutoCRC were responsible for only a very conservative 10 per cent improvement in vehicle safety this would amount to around $225 million or $32 million annually across the 7-year life of AutoCRC.

Environment

A further element of the AutoCRC research program relates to reducing the environmental impact of automotive products. This will be achieved through research that results in reduced fuel consumption and reduced emissions, improved recycling of vehicles and components and reduced emissions and waste from manufacturing processes.