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Research spending by the big carmakers grew more slowly in 2006 than in the previous five years, according to a study by business advice group Booz Allen Hamilton.

Of the big automotive corporations, Toyota increased its R&D spending by the biggest percentage, with almost 10 per cent more spent in 2006 than in the previous year. Its spending of $7.7 billion put it at the top of the list of 1,000 innovative companies surveyed by BAH.

Ford, the previous biggest rsearch spender, fell back to third in 2006, thoughn it still spent a higher percentage – 4.5 per cent – of its sales revenues on research than the other automotive groups in the top 10.

DaimlerChrysler and General Motors both decreased R&D spending in 2006, though they remain within the Top 10 spenders worldwide. Honda spends 5 per cent of its sales revenues on research, the highest proportion of the major carmakers.