Automotive

Automotive in Europe and Luxembourg

The European industry remains the largest automotive market in the world and a highly dynamic sector with expected 22 millions of vehicles to be produced in Europe in 2014 i.e. a 16% increase growth to the 19 million produced in 2007.

Luxembourg’s highly competitive business environment is particularly favorable for automotive suppliers.

Located centrally in Europe, Luxembourg proposes a base where all car manufacturers in Germany, France and the United Kingdom as well as assembly lines in Belgium and Netherlands can be supplied from Luxembourg on a same day delivery basis.

The economic development and diversification policy implemented by the Government encourages investment and research and fosters Luxembourg’s position in the automotive components industry.

The current challenges faced by the automotive industry are

• Cost reduction/performance improvement
• Excess labour, production capacity, inventory, and predatory pressures on margins
• Retail and distribution performance
• New regulations (accounting standards, government regulations - e.g., block exemption reform, IFRS, ELV, CAFE, EU accession, CO2 regulations)
• Environmental sustainability

Facing the market's challenges with us

At PricewaterhouseCoopers, a dedicated team of professionals in audit, accounting, tax, IT, HR and finance effectiveness assists automotive companies to meet their objectives and develop solutions tailored to this industry’s needs.

The Luxembourg team is connected to the European and global dedicated PricewaterhouseCoopers teams serving this industry and allowing it to provide multi-country advice and support.

Some of the tailored solutions include

• Revenue Assurance
• Regulatory
• Strategy alignment benchmarking
• Financial effectiveness health checks
• IFRS accounting advices
• Training