A number of automobile component applications using Advanced Steel, Aluminum, and sheet molded composites (SMC) plastics are presented along with the weight and cost impact of materials selected. The investigation looked into the economic tradeoff of annual component volume, material, and finished component costs. For all applications, aluminum is shown to be the lightest (~50% weight savings) yet most expensive with a cost increase of over 50% at all volumes compared to mild steel. Sheet molded composites are being used in several applications with a weight savings of 20% compared to mild steel and a cost reduction at vehicle volumes below 150,000-200,000 per year. Low density SMC in the development stage should be available within five years with a weight savings of 50% approaching aluminum at a cost of mild steel in volumes below 120,000 per year.