Commercial vehicles: sharpest downturn ever
Commercial vehicle production is particularly vulnerable to low business confidence and economic uncertainty. Order intake for heavy trucks stalled at just 10,000 in the first quarter, down from 100,000 a year ago.
Without access to finance and with weak demand for products and services, many businesses hold back on new expenditure on vans, trucks and passenger vehicles. European commercial vehicle makers have called upon the EU and member states to push economic recovery by investing in infrastructure of the future including in sustainable mobility, energy and telecommunications networks, restoring access to finance, driving better regulation and implementing measures to boost fleet renewal.
“This is not a normal cycle,” warned Leif Östling, Chairman of the ACEA Commercial Vehicle Manufacturers Board, “we are experiencing the sharpest downturn ever. Governments must act to prevent the failing of viable businesses, and they must do so in a coordinated way.”
- 6% of turnover invested in R&D each year
- 250,000 jobs in direct employment
- 1.5 million more in associated industries
- 2.6 million people employed by road transport operators
- Global reputation for safety and environmental progress
- The European Automobile Manufacturers’ Association (ACEA) is the Brussels-based trade association of the 16 major car, van, truck and bus producers in Europe.
- The ACEA commercial vehicle members are DAF Trucks, Daimler Truck, Ford Trucks, Iveco Group, MAN Truck & Bus, Scania, Volkswagen Commercial Vehicles, and Volvo Group.
- Visit www.acea.auto for more information about ACEA, and follow us on www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/.
- Contact: Cara McLaughlin, Communications Director, email@example.com, +32 485 88 66 47.
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About the EU automobile industry
- 12.7 million Europeans work in the auto industry (directly and indirectly), accounting for 6.6% of all EU jobs.
- 11.5% of EU manufacturing jobs – some 3.5 million – are in the automotive sector.
- Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets.
- The automobile industry generates a trade surplus of €76.3 billion for the EU.
- The turnover generated by the auto industry represents more than 8% of the EU’s GDP.
- Investing €58.8 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 32% of total EU spending.