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Austrian Automotive Status Quo 2010

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April 6, 2010

Why is the Auto Industry so important for Austria?

The Austrian Trade Commission in Chicago just published a report on status of the Austrian automotive industry: On the back of the worldwide recovery, Austrian volume exports and industrial output should rise by some 4% each in 2010. The cyclical recovery in Austria promises to be slow and may suffer temporary setbacks. If the industry is to remain competitive in the future, it will need to adapt ever more swiftly to changing demands from consumers, regulators, shareholders and society as a whole. Continuing to invest in R&D and to explore innovative technologies will be key, just as well as continued training to maintain a highly skilled workforce.

Austrian car industry experts have urged suppliers to review their business focuses. Consulting firm McKinsey has warned that car producers are facing an avalanche of costs owing to overcapacity and higher expenses for development and production. To read the entire report, please click here [pdf, 410.9kb].