The automotive industry is one of the main driving forces for the European economy. Automotive suppliers and their supply chain need a business friendly and competitive environment in order to be able to operate and produce innovative and sustainable products and services and to create growth and employment in Europe.
Industry in general and the automotive industry in particular is the backbone of the European economy and its low growth is putting at risk not only jobs and value added creation, but also the very foundations of European growth and competitiveness, innovation and productivity.
European automotive suppliers are one of the main drivers of innovation: they invest yearly over €22 billion in RDI, bringing to market an increasing diversity of products, with ever shorter development and product cycles. The ability for industry and their associated service companies to sell their products and profit in Europe and the world forms the basis for further investment, innovation, tax revenues and employment in Europa.
In January of 2014 the European Commission set a new target: increase industry’s share of GDP to 20% by 2020. This target can only be achieved with the strong contribution of the automotive industry; therefore the automotive suppliers and the whole supply chain need a business friendly and competitive environment to be able to operate, produce innovative and sustainable products and create growth and employment in Europe.