Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Top 10 Automakers Amass $221 billion in Cash

/ Source: Associated Press
People attend the press day of the Geneva Motor Show in Geneva, on March 5, 2014.FABRICE COFFRINI / AFP - Getty Images

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

A new study shows that the top 10 global automakers amassed more than $221 billion (161 billion euros) in cash by the end of 2013 to invest in new products, strategic alliances and other growth strategies.

Global consultancy EY said Wednesday that effectively managing that cash was a key concern among 100 top industry executives it had surveyed.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
 People attend the press day of the Geneva Motor Show in Geneva, on March 5, 2014. FABRICE COFFRINI / AFP - Getty Images

EY analyst Anil Valsan said companies are stockpiling cash so they don't have to count on banks, which have been reluctant to offer loans. The cash pile has grown steadily despite the crisis and partly in reaction to it, the survey found. EY didn't have comparative figures from previous years.

Besides new car development, automakers are looking for strategic partners to enter new markets in northern Africa, the Middle East and southeast Asia.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news

Have feedback?

How likely are you to recommend nbcnews.com to a friend or colleague?

0 = Very unlikely
10 = Very likely
Please select answer

Is your feedback about:

Please select answer

Leave your email if you’d like us to respond. (Optional)

Please enter a valid email address

Thank you!

Your feedback has been sent out. Please enjoy more of our content.

We appreciate your help making nbcnews.com a better place.