The automotive industry has been affected by the current recession affecting the global economy, and the sector is at present facing a serious situation, putting at risk a very significant number of jobs.
In 2008 there were about 8% fewer cars sold in the EU than in 2007. The current forecasts for the motor vehicle market in the EU are a 15% slump for passenger cars and a 30% decline in sales of commercial vehicles. In the short term in the field of competitiveness policy for the sector, work needs to focus on recovery from the crisis. This is facilitated by the Community financing of innovation, improving access to liquidity, promotion of fleet renewal schemes and by tackling the social cost of restructuring as presented in the European Economic Recovery Plan and the Communication " Responding to the crisis in the European automotive industry", adopted on 25 February 2009.
A succinct analysis of the current competitiveness situation in the automotive sector, as well as in a wide range of other industrial sectors, can be found in the publication European industry in a changing world. Updated sectoral overview 2009 [770 KB] .