PwC’s 2014 Assessing tax report, a Tax Rate Benchmarking Study for the automotive sector, provides insight into the effective tax rate (ETR) reported by automotive companies in 2013, the trends in ETR over the last three years and the drivers of the ETR. The analysis incorporated company data from 63 automotive companies for accounting periods ending in 2013. The companies included in the study are detailed at the end of this Insight.
With a record breaking winter in the US, political turmoil in South America and Eastern Europe and seemingly endless recall announcements around the globe highlight some of the hurdles the industry has encountered to start the year. The good news? Consumer confidence remains high and global sales and production are still expected to grow.