European Automotive Survey 2013
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European Automotive Survey 2013
European Automotive Survey 2013 Survey results Structure of the study ► ► Survey of 300 companies active in the European automotive industry (15% OEMs, 85% suppliers) Phone interviews conducted by an independent market research institute in January 2013 (Valid Research, Bielefeld). Peter Fuß Partner/German Public Auditor/German Tax Advisor Senior Advisory Partner Automotive GSA Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft Mergenthalerallee 3-5 65760 Eschborn Phone: + 49 (6196) 996 27412 [email protected] Page 2 Ernst & Young Country Germany 75 France 60 Italy 30 Spain 30 United Kingdom 30 Russia 15 Austria 10 Czech Republic 10 Slovakia 10 Poland 10 Portugal 10 Hungary 10 Current and future business situation OEMs significantly more satisfied than suppliers – German automotive industry doing good business How would you assess your current business situation?* Germany Europe OEMs Suppliers 29 33 45 56 14 14 12 16 38 31 41 17 1 Good 11 Fairly good 4 Medium Fairly poor 11 4 Poor 7 12 4 *All results in percent ► Europe’s auto industry managers are satisfied for the most part with their current business situation. ► In Europe, OEMs are on average more satisfied than suppliers: 56% of OEMs are completely satisfied with their current situation; the corresponding figure for suppliers is only 29%. Page 4 Ernst & Young Italy’s automobile industry is in a deep crisis How would you assess your current business situation?* ► ► ► Eastern European companies are significantly more satisfied with their current business situation than Western European companies. In Germany, the UK and France respondents report above-average satisfaction. Respondents from European countries: Germany 45 UK 30 France 30 Spain The majority of companies in Italy report a poor business situation (63%). Italy Page 5 Ernst & Young 7 33 31 11 1 44 3 3 47 23 36 17 50 35 Good *All results in percent 18 24 Eastern Europe Western Europe 20 33 13 12 13 15 44 14 Fairly good 7 37 Medium 42 12 Fairly poor Poor 4 Mainly optimistic projections How will your company’s business situation develop over the next six months? All respondents Respondents from European countries: France 1 10 25 Germany 21 11 10 79 8 2 UK 22 Spain Italy 68 Significantly improve 65 Slightly improve 65 12 4 60 28 64 Eastern Europe 17 Western Europe 15 13 32 75 8 1 Slightly deteriorate Significantly deteriorate 70 14 *All results in percent ► Auto industry managers in Eastern Europe, France, Germany and the UK in particular look to the future with optimism. In Italy, by contrast, every third respondent anticipates a deterioration in their own business situation. Page 6 Ernst & Young ...but a further decline in sales is expected in Western Europe How will global passenger vehicle sales develop in the next 12 months in the following regions?* ► ► Auto industry managers expect sales to increase in Asia in particular. A further decrease is forecast for Western Europe. Only 15% of respondents expect sales figures to increase. Respondents from European countries: China 43 India 32 Rest of Asia Respondents in Germany expect the Western European market to decrease by 3%. 19 45 31 4 Ø +4% 6 Ø +3% 5 Ø +2% 1 12 49 32 Ø +2% 6 1 South America 16 34 North America 8 35 Eastern Europe 7 35 Western Europe 3 12 Slightly increase (up to 5%) Slightly decrease (down no more than 5%) Significantly decrease (down more than 5%) Ernst & Young 41 42 9 16 35 Ø +2% Ø +1% 17 39 42 Significantly increase (more than 5%) Page 7 13 43 18 Russia ► 40 3 8 Ø +1% Ø -1% Remain roughly the same *All results in percent Growth only in the lowest and highest price segments What short- and medium-term prospects do you foresee for the new passenger vehicle market?* Low-price segment (up to EUR 15,000) Mid-price segment (up to EUR 30,000) Upper price segment (up to EUR 50,000) Premium/luxury segment Growth Stagnation Decline 52 20 28 48 34 38 20 32 37 29 43 19 *All results in percent ► Growth in small cars segment: 52% of respondents expect healthy growth rates in low-price segment. ► No consensus on luxury cars segment: indeed, 34% expect strong growth in this segment, while a 29% forecast stagnation or even declining sales figures. Page 8 Ernst & Young The companies’ strategic and operational planning Despite the crisis: production capacity also to increase in Europe Do you expect to increase or decrease your production capacity in the coming year?* All respondents 32 German companies 27 38 53 65 51 38 55 15 11 8 7 in Europe worldwide in Europe worldwide Increase Remain unchanged Decrease *All results in percent ► Despite the crisis, the European companies polled intend to increase more often than reduce production capacity, not only worldwide but also in Europe. ► German companies are more cautious when it comes to increasing capacity in Europe. Page 10 Ernst & Young Production in Europe: OEMs are considerably more cautious than suppliers Do you expect to increase or decrease your production capacity in Europe in the coming year?* Respondents from European countries: UK Spain Germany France Italy 7 32 8 27 8 25 34 68 13 51 19 42 14 Remain unchanged Suppliers 17 47 2 Eastern Europe Western Europe Increase 52 OEMs 30 Decrease 15 15 *All results in percent ► One in three Spanish companies intends to reduce production capacity throughout Europe in 2013 – by contrast, a very small percentage of British, German and French companies intend to reduce capacity. ► 42% of companies plan to step up investment in Eastern Europe; in Western Europe, the corresponding figure is only 30%. Page 11 Ernst & Young German companies intend to continue creating jobs... How will employment in your company develop over the next six months? All respondents 20 German companies 28 22 61 67 11 11 10 worldwide in Europe worldwide 61 19 in Europe Increase Remain unchanged Decrease 30 60 *All results in percent ► Considerably more European companies in the automobile industry intend to create jobs (28%) than to cut them (11%). In Europe, by contrast, employment is likely to stagnate at best: one in five companies intends to create jobs, and the same number plan to reduce headcount. Page 12 Ernst & Young ...but in Europe the labor market is stagnating How will employment in your company in Europe develop in the coming year?* Respondents from European countries: Spain UK Germany France Italy 25 11 17 20 66 61 17 19 7 19 17 Remain unchanged 17 22 12 37 Suppliers 25 11 Eastern Europe Western Europe Increase 30 OEMs 26 18 Decrease *All results in percent ► Alarm signals for Italy: In Europe, only 7% of the Italian companies polled intend to create jobs; by contrast, more than a third (37%) intend to cut jobs. ► Eastern European companies are more optimistic in their HR policy than Western European companies. Page 13 Ernst & Young Companies opt for greater flexibility Are you currently planning to step up one or more of the following measures aimed at raising flexibility?* Flexible working time models (e.g. phased retirement). 21 Integration of external providers 12 Concentration of production locations and administrative units Are being implemented 12 40 28 17 Establishment of Shared Services Centers 47 26 38 21 18 30 Are planned "Implemented" and "planned" OEMs Suppliers Working time models 34 49 Integration of external providers 46 39 Concentration of production locations 43 37 Shared Services Center 33 29 *All results in percent ► In view of the uncertain economic development, companies are taking various measures geared to increasing flexibility and efficiency. The most common measures implemented or planned are flexible working time models (47%); external providers are also increasingly being integrated (40%). Page 14 Ernst & Young Business models and product ranges under scrutiny Strategic realignment: are you currently planning one or more of the following measures? Check whether business models are future-proof 33 Revision of product range 31 Restrict non-strategic activities 19 Strategic acquisitions 17 Divestments Are being implemented 11 68 37 27 Acquisitions in order to increase cost synergies 72 39 60 33 54 35 48 31 22 33 Are planned "Implemented" and "planned" OEMs Suppliers Business models 68 73 Product range 74 67 Restrict nonstrategic activities 50 61 Acquisitions (cost synergies) 52 55 Strategic acquisitions 46 49 Divestments 25 34 *All results in percent ► In order to make themselves crisis-proof, 72% of the companies polled are reviewing whether their business models are future-proof – and two thirds are giving their product range a complete makeover. ► Acquisitions for cost or strategic reasons are on the agenda at half of the companies. Page 15 Ernst & Young OEMs in particular are increasingly backing research and development How will your company’s investments in research and development develop in the coming year?* All respondents German companies Decrease Decrease Increase 7 Increase 2 33 Increase Decrease OEMs 41 5 Suppliers 32 7 40 58 60 Constant Constant *All results in percent ► Despite rising cost pressure, most companies do not intend to save on research. One in three intends to increase its R&D spend; only 7% intend to decrease these investments. ► In Germany, the companies are more willing to invest: 40% intend to increase their R&D spend. Page 16 Ernst & Young Focus on optimizing processes Are you planning to increasingly streamline processes in the following business units? Purchasing 33 70 37 68 "Implemented" and "planned" OEMs Suppliers Purchasing 68 70 Personnel development 68 68 Personnel development 30 38 Production 31 36 67 Production 68 67 Marketing/sponsorship/ events 29 38 67 Marketing/events/ sponsorship 71 65 Sales 73 63 Administration 68 55 Sales Administration Are being implemented 33 30 65 32 28 Are planned 58 *All results in percent ► In the coming year, the companies intend to streamline structures in procurement in particular (70%). ► More than two thirds of the companies are also looking at personnel development, production and marketing in order to increase efficiency. Page 17 Ernst & Young Attractiveness of automotive sites Top countries: innovation power In your opinion, how competitive are the following automotive hubs with respect to innovation power?* Germany 44 Japan 24 South Korea 41 20 China 41 18 USA 42 13 Brazil 10 India 10 Sweden 43 39 35 13 30 France 6 28 Russia 7 24 Czech Republic 37 4 UK 27 7 Italy 4 Slovakia 2 Poland 3 23 24 23 17 Turkey 1 17 Hungary 1 17 Spain 14 3 *All results in percent Very competitive Page 19 Fairly competitive Ernst & Young Top countries: innovation power Difference 2011-2013 in percentage points South Korea 21 Brazil 13 Sweden 9 USA 7 Japan 6 India 5 China 3 Germany 2 Slovakia 0 Czech Republic -2 Hungary -3 Turkey -3 Russia -4 Poland -8 Italy -9 UK -11 Spain -12 France -21 Page 20 Ernst & Young Top countries: product quality In your opinion, how competitive are the following automotive hubs with respect to product quality?* Germany 51 Japan 37 28 44 Sweden 19 43 South Korea 19 42 USA 13 UK 13 France 47 35 10 Italy 34 6 Czech Republic 34 4 31 Brazil 7 Spain 6 China 5 29 28 27 Slovakia 3 24 Russia 3 23 Poland 3 23 India 4 22 Hungary 1 Turkey 2 *All results in percent 20 17 Very competitive Page 21 Fairly competitive Ernst & Young Top countries: product quality Difference 2011-2013 in percentage points South Korea 22 Japan 18 Sweden 14 Brazil 13 USA 11 Germany 11 Czech Republic 7 UK 3 Slovakia 2 China 0 Italy 0 Turkey -1 Poland -1 Spain -1 Russia -2 Hungary -4 India France -5 -15 Page 22 Ernst & Young Top countries: manufacturing costs In your opinion, how competitive are the following automotive hubs with respect to manufacturing costs at present?* China 40 India 31 34 Czech Republic 35 8 54 Slovakia 10 51 Hungary 11 Poland 7 Brazil 6 South Korea Turkey Russia 46 49 45 8 37 5 35 3 34 Germany 8 21 Japan 6 22 USA 5 23 Spain 4 21 Sweden 6 France 5 Italy 5 13 UK 5 13 *All results in percent 16 15 Very competitive Page 23 Fairly competitive Ernst & Young Top countries: manufacturing costs Difference 2011-2013 in percentage points Slovakia 27 China 26 India 25 Czech Republic 22 Hungary 19 Poland 17 Brazil 14 South Korea 6 Turkey 2 Russia 0 Sweden -6 USA -7 Spain -10 Italy -15 Japan -18 Germany -18 France UK -19 -21 Page 24 Ernst & Young Top countries: productivity In your opinion, how competitive are the following automotive hubs with respect to productivity?* Germany 30 44 Japan 21 45 South Korea 20 46 China 25 India 16 USA 8 France 8 38 38 36 5 36 Sweden 11 UK Poland 35 12 Brazil Czech Republic 36 29 8 31 5 31 Slovakia 3 29 Hungary 4 27 Russia 4 26 Turkey 4 25 Italy Spain 6 3 *All results in percent 22 23 Very competitive Page 25 Fairly competitive Ernst & Young Top countries: productivity Difference 2011-2013 in percentage points South Korea 26 Brazil 15 India 13 China 9 Czech Republic 7 Japan 7 Germany 7 Poland 6 USA 2 Slovakia 1 Hungary 1 Turkey 1 Sweden 0 UK -2 Russia -3 Italy -7 France -7 Spain -15 Page 26 Ernst & Young Ernst & Young Assurance | Tax | Transactions | Advisory About the global Ernst & Young organization The global Ernst & Young organization is a leader in assurance, tax, transaction and advisory services. 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