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The EU automotive industry currently faces a number of issues. It lags behind the US and Japan in terms of productivity; labour productivity is currently 25% less than US and 30% less than Japan. However, labour costs are comparable
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1. Nature of Issue The automotive industry is one of the largest and most influential multinational industries in the world. It is a key indicator of economic growth and a major contributor to the gross domestic product (GDP) of several Member States and the EU. The automotive industry as a whole accounts for 10% of the total value of production in the EU and employs around twelve million people. On a global level, the assets of the top ten multinational automotive enterprises represent 28% of total assets of the world's top 50 companies. It is additionally a highly competitive industry, with low margins due to market saturation. Efficiency and low costs are the critical main factors or strategy adopted. Consequence, in order to reduce costs, outsourcing and relocation of production has increasingly become an important method of cost cutting. This has enabled many automotive companies to strengthen or enhance their market...
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