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Automotive Industry:Europe: Difference between revisions
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See also: [[Automotive Industry: Current State of EV Sales]] | [[Volkswagen]] | See also: [[Automotive Industry: Current State of EV Sales]] | [[Volkswagen]] | ||
== Contribution == | |||
* 13.0 million Europeans work in the auto industry (directly and indirectly), accounting for 7% of all EU jobs | |||
* 11.5% of EU manufacturing jobs – some 3.4 million – are in the automotive sector | |||
* Motor vehicles are responsible for €374.6 billion of tax revenue for governments across key European markets | |||
* The automobile industry generates a trade surplus of €79.5 billion for the European Union • | |||
* The turnover generated by the auto industry represents almost 8% of the EU’s GDP | |||
* Investing €58.8 billion in R&D per year, automotive is Europe's largest private contributor to innovation, accounting for 32% of the EU total | |||
== New Car Registrations == | == New Car Registrations == | ||
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* Inflation: Inflation has hit Europe much more severely than the United States or China, with labor costs for European automakers disproportionately affected compared with other industries. | * Inflation: Inflation has hit Europe much more severely than the United States or China, with labor costs for European automakers disproportionately affected compared with other industries. | ||
* Productivity crisis: Europe’s productivity and economic growth lag behind those of its peers, particularly in areas such as software engineering in which the auto industry needs significant additional capacity. | * Productivity crisis: Europe’s productivity and economic growth lag behind those of its peers, particularly in areas such as software engineering in which the auto industry needs significant additional capacity.<ref name=":0" /> | ||
=== KPMG 2023 === | === KPMG 2023 === | ||
== References == | == References == | ||