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The world’s automobile industry made over seventy three million cars, vans, trucks and buses in 2007. These vehicles are essential to the working of the global economy and to the wellbeing of the world’s citizens.
(Published on November-December 2008 – JEC Magazine #45)
This level of output is equivalent to a global turnover of €2 trillion. If vehicle manufacturing was a country it would be the sixth largest economy in the world.
Building seventy-three million vehicles requires the employment of more than eight million people directly in making the vehicles and the parts that go into them. This is over five percent of the world’s total manufacturing employment. In addition to these direct employees, about five times more are employed indirectly in related manufacturing and service provision, such that an estimated more than 50 million people earn their living from cars, trucks, buses and coaches.
The automobile industry is also a major innovator, investing almost €85 billion in research, development and production. The auto industry plays a key role in the technology level of other industries and of society and is one of the largest investors in Research and Development, with several manufacturers leading the Top 10.
Vehicle manufacture and use are also major contributors to government revenues around the world, contributing over €430 billion in twenty-six countries alone.