EC tables CARS 2020 action plan
With 12 million sector-related jobs the automotive industry is vital for Europe's prosperity and job creation. The automotive industry as a whole (automotive producers, supply chain and aftermarket, including thousands of SMEs) is of strategic importance to the European economy, representing 12 million direct and indirect jobs, 4 per cent of GDP and a €90 billion trade surplus (in 2011). This industry is the biggest private investor in research and innovation, spending around €30 billion annually.