EU and US auto industry call for a comprehensive agreement under TTIP
11 March 2014, Brussels and Washington – The European Automobile Manufacturers’ Association (ACEA ), the American Automotive Policy Council (AAPC), and the Alliance of Automobile Manufacturers (Alliance) reiterate their strong support for the Transatlantic Trade and Investment Partnership (TTIP), calling for a comprehensive automotive deal as the fourth round of negotiations takes place this week in Brussels. Tomorrow they will be making a joint presentation to the negotiators during the stakeholders’ consultation meeting.
The transatlantic auto industry’s top priority in this negotiation is to achieve ‘regulatory convergence’ of existing US and EU auto safety standards, which means that these standards could be recognised as equivalent. In addition, the TTIP should help ensure that EU and US regulatory authorities closely cooperate to avoid future divergence on new regulations. The common goal is to ensure that vehicles and their components could be imported and exported without unnecessary burdens and costs.
AAPC, ACEA and the Alliance are convinced that the full potential of any ambitious agreement can only be reached if such regulatory requirements are included. The three associations have been working together since the announcement of the TTIP negotiations to develop an objective means to demonstrate that the high-level of safety performance and outcomes of US and EU vehicles are essentially equivalent.
EU-US auto-related trade currently accounts for some 10% of total trade between the two regions. Together, the EU and the US account for 32% of global auto production and 36% of global auto sales. Under a TTIP, the two regions would represent the largest share of auto production and sales ever covered by a single trade agreement.
Notes for editors
About the American Automotive Policy Council
- The American Automotive Policy Council represents the common public policy interests of its member companies – Chrysler Group LLC, Ford Motor Company and General Motors Company.
- Media contact: Colin Dunn +1 202 400-2609, firstname.lastname@example.org
About the Alliance of Automotive Manufacturers
- The Alliance of Automobile Manufacturers is a trade association of 12 car and light truck manufacturers including BMW Group, Chrysler, Ford Motor Company, General Motors, Jaguar Land Rover, Mazda, Mercedes-Benz, Mitsubishi Motors, Porsche, Toyota, Volkswagen and Volvo.
- Media contact: Wade Newton +1 202 326 5571
- The European Automobile Manufacturers’ Association (ACEA) represents the 16 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, Jaguar Land Rover, Mercedes-Benz, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, 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.
Interested in ACEA press releases?
Receive them directly in your inbox!
About the EU automobile industry
- 13 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 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.