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Scientific Bulletin – Economic Sciences, Vol. 7 (13)The competitiveness of the European automobile industry in financial crisesconditionsUniversity Prof. PhD Viorel CORNESCU, Prof. PhD Magdalena PLATISUniversity of BucharestAssistant professor PhD Student Alina HAGIUUniversity of Pitestialinahagiu@yahoo.comAbstractThe automobile industry crisis started in United States, where the main car manufacturers,General Motors, Ford and Chrysler, confronted with the decline of the market share from70% in 1998 to 53% in 2008. The car manufacturers were hard hit by the financial crisisbecause the credit crunch weakens demand for new cars and makes it difficult for the sectorto finance daily operations. Customers are hesitating to make large expenditure. New carsales decreased comparing with the last year, and the financial crisis aggravates the trend.Specialists are discussing the possibility of a common rescue package for all the EUmember states.Keywords: competitiveness, car industry, regulation, crisis.1. IntroductionIn Europe, the automobile industry has a long history, and today auto makers haveproduction facilities in almost all the member states. Is no surprise the fact that Europe is theworld’s largest vehicle producer, this meaning that one third of the 50 million cars producedglobally are manufactured in the European Union.In total, more than 12 million European families depend on automobile employment, with 2.3million direct jobs and another 10 million in related sectors. The car industry represents 6% oftotal European employment. Cars also represent a major source of income for the EU members’states. Vehicle taxes represent 3.5% of the European Gross Domestic Product (GDP), meaning acontribution of 360 billion Euros yearly to government revenues.The European car industry has given important support to the shape of the current EuropeanSocial Model. The European automobile manufacturers are fully part of the achievements of theEuropean social model. And they are committed to maintaining its existence: A skilled andflexible work force is essential, and the industry makes continuous efforts to achieve even higherstandards.The car industry is and will remain a cornerstone of the European economy and society.2. The European automobile industryThe European automobile industry is the key to the EU economy. The sector employs 2.3million people directly and indirectly supports the jobs of another 10 million families. Theautomobile industry is the largest private investor in research & development in the EU, withR&D expenditure of 20 billion Euros annually.In the following paragraphs will be presented: the motor vehicle production in Europe and in theworld, the destination and the origin of exports and imports, in this area.22
The competitiveness of the European automobile industry in financial crises conditionsTable no.1 - The automotive industry major contribution to EU growth,employment and wealthProduction Total motor vehicles 2006 Mn units 69,2(Worldwide)Total motor vehicles (EU27) 2006 Mn units 18,6 = 27% of worldwide MVproductionTotal passenger cars (Worldwide) 2006 Mn units 49,9Total passenger cars (EU27) 2006 Mn units 16,2 = 33% of worldwide PCproduction-o/w ACEA members 2006 Mn units 13,2 = 26% of worldwide PCproductionNew Total motor vehicles 2006 Mn units 62,6Registrations/Sales(Worldwide)Total motor vehicles (EU25) 2006 Mn units 18 = 29% of worldwide MVregistrations/salesTotal passenger cars (Worldwide) 2006 Mn units 46,6Total passenger cars (EU25) 2006 Mn units 15,4 = 33% of worldwide PCregistrations/sales-o/w ACEA members 2006 Mn units 12,1 = 26% of worldwide PCregistrations/salesEmployment Motor vehicles production 2004 Mn people 2,3EU27Total (incl. indirect*) EU27 2004 Mn people ca. 12.6Turnover ACEA members worldwide 2005 Bn EUR ca. 560Investment ACEA members worldwide 2005 Bn EUR ca. 40 = 7% of turnoverR&D ACEA members worldwide 2005 Bn EUR 20 = 4% of turnoverValue Added in EU15 (Manufacturers + 2004 Bn EUR 8% of manufacturing sectorSuppliers)Exports Extra EU25 2005 Bn EUR 71,1Motor Vehiclesin use (WesternEurope**)Trade Balance 2005 Bn EUR 41,6Total 2005 Mn units 224Passenger Cars 2005 Mn units 196Average Age 2005 Years ca. 8Density 2005 per 1000 508inhab.New PC Registrations - Specifications 2006 Cm3 1733(Western Europe) Average CCPower 2006 (KW) 85Diesel 2006 % Share 51%4x4 2006 % Share 8,2%Tax Revenue from Motor Vehicles 2006 Bn EUR 360 = 3,5% of EU15 GDPSource: ACEA, VDA, AAA, GLOBAL INSIGHT, EUROSTATThe figure no.1 reflects the world passenger car production during 2007. The figureshows that the biggest car production in the past year was realised in EU27 (33%), beingfollowed by Japan (19%), NAFTA (12%), China (12), South Korea (7%). The rest of the placeswere occupied by South America (6%), other Asian countries (4%), India (3%), Russia (2%),and other European countries (2%).Even if the EU27 is on the first place, we cannot ignore the fact that in reality Japan is theworld biggest car producer, if we take into consideration the fact that EU’s 33% represent the carproduction of all 27 member states, while Japan is a single state and detains 12% of the worldpassenger car production.23
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