ACEA publication of its annual Pocket Guide
The European Automobile Manufacturer’s Association (ACEA) has published its annual Pocket Guide. The publication provides an overview of the EU auto industry with updated figures on employment and innovation in the industry and its related policies.
The latest data provided by the association demonstrate the importance of the automotive industry for the European economy, since it provides direct and indirect jobs to 14.6 million people which represent alone 6.7% of total employment in the European Union, employing experts from the R&I&D domain to the engineering, production, distribution, market analysis, sales and aftermarket services.
Almost 18 million vehicles were ‘made in Europe’ in 2019, representing 20% of global vehicle production. And, 5.6 million of these vehicles were exported around the world, generating a trade surplus of €74 billion for the EU last year.
There are 313 million vehicles in circulation on Europe’s roads today. Apart from ensuring that people and goods can move freely across the continent, these vehicles are a major source of government revenue, bringing in over €440.4 billion in taxes each year. In fact, the turnover generated by the auto industry represents over 7% of total EU GDP.
In addition, the new figures also show the auto industry as the biggest spender in R&D in the EU, investing an impressive €60.9 billion annually (+6.1% on the previous year), or 29% of the region’s total spending. Europe also leads the world when it comes to self-driving vehicles, responsible for a third of all global patent applications. Suppliers are contributing with around 50% of these investment of R&I, accounting for more than €30 billion.
Notwithstanding, the industry faced unprecedented challenges during the lockdown period. Considering its importance for the European economy, the automotive industry is a vital pillar for the post-COVID-19 recovery. Now more than ever, it is important that the sector and policy makers can work together to survive and recover this difficult period.
Source: ACEA, CLEPA
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In: Growth & Competitiveness