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At its meeting on the side-lines of the Paris Motor Show today, the Board of the European Automobile Manufacturers’ Association (ACEA) formally welcomed the European Commission President’s pledge to strengthen Europe’s competitiveness and to stimulate investment for the purpose of job creation.

Quoting figures from ACEA’s newly-published Automobile Industry Pocket Guide 2014-2015, ACEA President Carlos Ghosn stated: “Europe’s automobile industry supports 12.7 million jobs, is responsible for €32.3 billion in annual R&D investment, has a turnover of €843.4 billion – or 6.6% of EU GDP. It contributes €95.1 billion in net exports and over €388.8 billion in tax contributions to the EU economy.”

“ACEA will be working constructively with Europe’s new policy makers to ensure that it can deliver on its pledges, and that it can keep the automotive industry running as Europe’s engine of growth and innovation while ensuring it can stay competitive globally,” Mr Ghosn said.

“We are looking forward to the creation of a more balanced and smarter regulatory environment in Europe which allows our companies to continue innovating under more cost-effective conditions, thereby maintaining and further strengthening the technological leadership and standard-setting role our industry has traditionally played globally.”

“More specifically we believe that stronger sector-focused strategies will be needed to support the Commission’s Jobs, Growth and Investment Package.”

ACEA’s Board is made up of the CEOs of the 15 Europe-based car, van, truck and bus manufacturers. Meeting on the final day of the seventh round of EU-US negotiations on the Transatlantic Trade and Investment Partnership (TTIP) agreement, the CEOs also reiterated their support for TTIP, calling for a comprehensive automotive deal, which includes the elimination of both tariffs and non-tariff barriers through regulatory convergence.

ACEA’s Pocket Guide compiles the latest data on vehicle production, registration, use and taxation, as well as employment and trade.

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