Carmakers are spending on research

Carmakers worldwide are spending more money on research and development than ever before, according to a new study by the Boston Consulting Group (BCG).

Research and development spending by 14 of the world's most innovative carmakers has gone up by an average of eight per cent since 2009, said the analysts.

From 2011 to 2012 research spending grew at a humbler level of three per cent each year. Major component suppliers such as Bosch and Continental had also ramped up research and development spending, said BCG.

The efforts were reflected in a sharp increase in the number of car-related patent registrations after a slump of 25 per cent during the 2008-2009 financial crisis.

BCG said most patents revolved around vehicle drivetrains, lightweight material and bonding systems along with driver assistance and driver security systems.

Toyota, Ford and BMW were singled out as being among the world's most innovative manufacturers in a BCG report published last September.