Brussels, Belgium – The European Automobile Manufacturers’ Association (ACEA) has commented on an economic recovery plan presented by the European Commission, calling it a “welcome first step towards addressing the consequences of the financial crisis,” while advising that details must quickly become clear with regard to its scope and the amount of funding available.

“EU governments and institutions need to act and urgency is the key,” said Christian Streiff, president of ACEA and CEO of PSA Peugeot Citroën. “The framework proposed this morning needs to be translated swiftly into concrete and effective measures to help an industry in great danger.”

The ACEA said that over the past decade, the auto industry has been directing large investments towards the transition to a low-carbon economy, and that in light of accumulative regulatory requirements, a supportive policy framework is essential to help ensure further progress and to guarantee a sound manufacturing base in Europe.

European new-car registrations declined by 10 per cent in the third quarter of 2008, and manufacturers and suppliers have started to scale back production. The ACEA said that the automotive industry is rooted in more than two-thirds of the EU member states, and that 12 million European families depend on the sector for employment.

ACEA members include the BMW Group, DAF Trucks, Daimler, FIAT, Ford of Europe, General Motors Europe, Jaguar Land Rover, MAN Nutzfahrzeuge, Porsche, PSA Peugeot Citroën, Renault, Scania, Toyota Motor Europe, Volkswagen and Volvo.

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