Investment in new automotive production assembly has declined over 40% in the first half of 2005 when compared to the same period a year ago, driving home the concerns of many that excess capacity remains an issue. So of the $8.5B that's been spent so far this year, where has it gone? Less than $1B each has been invested into Canada and the United States. The investment of nearly $2B into China shouldn't be much of a surprise, but Thailand is getting $1.2B which is definitely more than I would have expected. Good ol' Iran shows up with just over $1B of investment so far this year. Expect to see those sort of trends continue. Toyota, Nissan, and DCX are each spending nearly a billion or more, South Korean manufacturers are building new plants as if they intend to rule the world, while Ford and Honda are investing next to nothing in additional capacity.