PLYMOUTH, Mich., Aug. 28, 2012 /PRNewswire/ -- The following statement is attributable to Tony Schultz, Honeywell (NYSE: HON) Turbo Technologies vice president for the Americas, based at HTT's North American headquarters in Plymouth, Mich.
"Honeywell is developing fuel-efficient turbochargers that help automakers achieve CAFE targets while meeting consumer demand for improved fuel economy without compromising engine performance. In the U.S., we expect to see turbo penetration in light vehicle industry sales move from just more than 10 percent now to more than 20 percent by 2016 as manufacturers continue the process of downsizing and turbocharging to increase miles per gallon in all segments. The advancements being made in turbo technology will make it a key component of the solution for the even more aggressive standards now set for 2025. Honeywell has U.S. launches with more than a dozen vehicle brands in the next few years including Chrysler, Ford, GM, Volkswagen, Nissan, and Fiat which will more than double our current annual launch rate for light vehicle turbochargers in North America."
Honeywell Turbo Technologies is the leading automotive turbocharger developer in the world, and is a business unit of Honeywell Transportation Systems. As a leading automotive supplier, and a pioneer of the first automotive turbocharger nearly 60 years ago, turbocharging enables an improvement in fuel economy by as much as 20 percent on gas vehicles and 40 percent on diesel vehicles, and at a significant discount compared to hybrids and electric vehicles. Each year Honeywell launches on average 100 new turbo applications globally. Currently, Honeywell has more than 500 programs with nearly every major global manufacturer in its product development pipeline.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.
SOURCE Honeywell Turbo Technologies