The Evolution of the European Car Industry in the Context of the Economic Crisis

Alina Hagiu

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 918-924

Abstract: The economic recession has had a huge negative impact on the car industry. The decline in car sales affects not only manufacturers themselves but also the considerable number of small and medium-sized businesses that depend directly on the car industry as suppliers and retailers. Thousands of jobs are consequently at stake. The car industry is a key sector of the European economy contributing to employment, innovation and competitiveness in Europe. The industry must strive to continue developing the skills of its workforces. The focus should be on investment in innovative and green technologies. Renewal of the car fleet should also be encouraged to boost demand for new, safer and environmentally friendlier vehicles. The paper aims to present the evolution of the European car industry before and in time of the economic crisis, and to present some tendencies for after the crisis.

Keywords: car industry, crisis, development, perspectives (search for similar items in EconPapers)
JEL-codes: L62 O14 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:918-924

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