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Aluminum and polymer composites have long been considered the materials of choice for achieving mass reduction in automotive structures. As consumer and government demand for mass reduction grows, the use of these materials, which have traditionally been more expensive than the incumbent steel, becomes more likely. In response to this growing challenge, the international steel community has joined forces to develop the Ultra Light Steel Auto Body (ULSAB). The resulting design saves mass and increases performance relative to current steel unibodies. Although mass savings are not as dramatic as those achieved by alternative materials, this design offers the potential to be accompanied by a manufacturing cost reduction. The projected manufacturing piece and investment cost for the ULSAB are investigated using technical cost modeling. The results presented here examine the elements that contribute to the cost, including treatments for stamping, hydroforming, assembly and purchased parts.