CLEPA Press Release on the CARS 21 High Level Conference
 
Brussels, 29 October 2008 : On  29  October  2008  the Members  of  the  CARS  21 mid-term  review  presented  their report including 16 unanimously-adopted recommendations. 
 
The  report  comes  at  a  time  of  unforeseen  and  unparalleled  economic  difficulties  for  EU economies and  the automotive sector. The current  economic situation  is  therefore having an adverse impact on the sales of new vehicles in Europe, further complicating the situation with regard  to  manufacturing  capacity  utilisation.  Lower  sales  and  an  unfavourable  economic environment  in  turn  translate  into  reduced  margins  and  profitability,  putting  pressure  on employment and limiting the possibility of increasing R&D budgets.