However, the economic crisis underscored the need to keep the car manufacturing base in the EU and to keep it competitive in order to support jobs and the economy.

Since Europe is home to some of the best-loved cars, the region’s auto industry is obviously central to its wealth. As well as employing around 12 million skilled people, it is the biggest private investor in research and development, with €32 billion being spent in this area in 2012. The industry also remains a channel of ingenuity and cutting-edge technologies. Added to that, it represents a total turnover of €839 billion – around 6.9 % of the EU’s Gross Domestic Product (GDP) and automobile exports are far higher than automobile imports with sales in third countries worth a trade balance of €108 billion in 2012.