Austria

Country Overview                 Austria GDP pro capita in 2011 was $41.700, the 17^th globally and the 6^th excluding very small countries. This data could be enough to explain how this is a prosperous and democratic country, Member of EU Economic and Monetary Union since 1999, where citizens standard of living are really high. Looking at car industry, in the 2011, Austria was ranked as world’s 27^th market with a total light passenger industry of 388.676 units.

Italy

Germany

Porsche, Audi, Mercedes, BMW, Volkswagen, Opel (controlled by GM) have created the myth of German auto industry, a benchmark for style, quality, prestige, luxury.

The automotive industry continues to have a key relevance in the German economy accounting for over 19% of National Manufacturing output, with an export surplus exceeding € 85 billion. Some 1.4 million people work in upstream and downstream businesses that are dependent on the automotive sector.

While German OEMs have conquest the world opening plant in all continents, the national production had been safeguarded and actually over 6 millions vehicles are produced in the country, which is the world's 4th automotive producer.

The domestic market in 2011 was close to 3.4 millions (including 233.000 LCVs) and was the world’s 5th market.

Spain

Country Overview

Spain is the 14th global economy with over $ 1.411 trillion GDP (purchasing power parity) in 2011. The country joined the European Community in 1986 and is in Euro currency area since 2002. The per capita income of $ 30.600 (2011) is still below EU average ($34.000).

The 2008 financial crisis interrupted 15 years of above average GDP growth and started a period of economic difficulties not yet ended. The GDP felt by 3.7% in 2009, and 0.1% in 2010. In 2011 was slightly positive (+0.8%), while in 2012 it is expected negative again. Level of unemployment boosted at 20.8 and National Budget deficit in 2011 was 6.5% of GDP, with a Public Debt growing at 68.2.

Automotive Industry Overview

Although the domestic Brand – Seat - was incorporated in Volkswagen Group, automotive industry has been used by Spain as locomotive of economic development. Car production achieved a record volume in the 2000, surpassing 3 millions vehicles in a year, when the country was the base to export in Europe for many OEMs (Volkswagen, Renault, PSA, Nissan, Honda, Ford, and Opel). In recent years production felt and in 2011 was 2.352.000 the 2nd in Europe and the world's 9th.

Spanish domestic light passenger vehicle industry in 2011 registered 912.000 units, the 15th globally.

Ukraine

Country Overview                 with 45 million people and a density of 76/km2. Ukraine has an average income of $ 6.762 in the 2010 (Russia was at $ 15.633) and the economy suffered in the 2008 crisis more than Russia. The 2010 GDP at $ 305 billion was 11.2 pct. lower than 2008.

The automotive sector was dramatically hit by the crisis. The light passenger industry in 2008 had achieved its record at 610.200 registrations and in 2009 dropped by an unbelievable 72 pct. at 175.200, a volume lower than 2003. In the 2010 the market was stable (full year at 170.000).

Russia

Russia is the largest country in the World with 17.100.000 square km and 138 million people. Following the 1989 disgragation of USSR, the country had fast developed its economy leveraging on vaste natural sources. Today 2011 Russia is the world's larger oil producer and the second in natural gas.

According to the World Bank the government's anti-crisis package in 2008-09 amounted to roughly 6.7% of GDP. The economic decline bottomed out in mid-2009 and the economy began to grow in the third quarter of 2009. High oil prices buoyed Russian growth in 2011-12 and helped Russia reduce the budget deficit inherited from 2008-09. Russia has reduced unemployment to a record low and has lowered inflation below double digit rates. Russia joined the World Trade Organization in 2012, which will reduce trade barriers and help open foreign markets for Russian goods. At the same time, Russia has sought to cement economic ties with countries in the former Soviet space through a Customs Union with Belarus and Kazakhstan, and, in the next several years, through a new Russia-led economic bloc called the Eurasian Union.

Sweden

The 9 millions Swedish are living with an average pro capite income of $ 40.600, one of the world's highest. Together with the others Scandinavian countries, Sweden is considered a global benchmark as democracy and sustainable economic growth. The country was hit by 2008 global financial crisis with a GDP drop of 5.3%, but the reaction was very fast (+ 5.7 and 4.4 respectively in 2010 and 2011).

In the past, automotive sector was really important for the country, but today Saab is under bankrupt, while Volvo is owner by Chinese Geely after a difficult period under Ford Group umbrella. Car production in Sweden is declining and in 2011 only 189.000 light vehicles were produced here.

Portugal

Finland

Country Overview

Finland, a country of forests and lakes and one of most advanced in social care and respect for human rights. It is a Member of European Community since 1995 and adopted euro currency in 2001. The 5.3 million Finnish are among the healthy and richest in the world (pro capita income of $ 38.300 in 2011). The country excels in high tech, telecommunication engineering and electronics with Exports accounting over 30% of GDP. For this reason the global economic crisis in 2008 hit severely the country with the GDP dropped in 2009 by 8.4%. The recover was not immediate, with GDP up by 3.7 in 2010 and 2.7 in 2011. However the current challenge is to avoid to be involved again by European recession winds. The Public debt is growing (49% of GDP in 2011) and it is expected to further grow in the next 3 years. Unemployment at 7.8 (2011) is below EU average.

Czech Republich

The Czech Republic is a small prosperous country in the middle of Europe,  EC member since 2004 with intensive economic relations inside Europe, especially with Germany. The economy is driven by large export activity in many sectors. The 2008 global financial crisis hit the export sector and national GDP declined 4.7% in 2009. In 2010 and 2011 it has slowly recovered by respectively 2.3% and 1.9%. The pro capita GDP in 2011 was $ 25.900, $5.000 below EU zone average. A low inflation rate (1.9% in 2011) allows at the Central Bank to maintain low interest rates in order to stimulate the internal demand. However the European recession environment will generate constraints for months.

The Automotive industry

The automotive industry is the largest industrial sector of the country, accounting for 24% of manufacturing GDP. In the last 10 years the production grew considerably, thanks to the export quota of more than 80%. In 2011 car produced were 1.1 million and the country was the world's 16th car producer.

The national Brand, Skoda, has over 100 years of history. Now it is part of Volkswagen group. However in the country cars are produced also by TPCA, a joint venture between PSA and Toyota and by Hyundai, that built a plant in Nosovice with a yearly production capability exceeding 300.000 cars and over 3.500 people employed.

The Czech Republic is also characterized by a strong automotive suppliers sector. According to the national investment agency (CzechInvest), more than half of the largest global automotive suppliers have operations in the country. This large portfolio of suppliers gives access to an almost complete local supply chain, providing significant cost advantages. The country's skilled industrial labor force, together with its proximity to Germany and other Western European markets, secured by a stable political and economic environment, is turning the Czech Republic into a new pole of the European car industry.

Romania

Country Overview

Romania is a European Union member since 1 January 2007, after a period of strong economic growth, based on strong EU demand As a result of the global financial crisis, Romanian GDP fell 6.6% in 2009, prompting the country to seek a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. Drastic austerity measures, as part of Romania's IMF-led agreement, led to a 1.3% GDP contraction in 2010. The economy returned to positive growth in 2011 due to a strong export performance, but in a deflationary environment caused by bountiful crops and weak domestic demand. In March 2011, Romania and the IMF/EC/World Bank signed a 24-month precautionary stand-by agreement, worth $4.9 billion, to promote compliance with fiscal targets, progress on structural reforms, and financial sector stability. The Romanian authorities have announced that they do not intend to draw funds from the facility. The current pro capita revenue at $ 12.600 is among the lowest in EU in spite of unemployment at 5% are the half of EU average.

The local car producer, Dacia, owned by Renault since 1999, is the main exporter from Romania with 10% of total exports. The local light vehicles production in the 2011 was the all-time record, with 335.000 units. Dacia and its models (many are distributed under Renault name outside of Europe) have a growing success in the low cost segment.

Denmark

Country Overview

Denmark has evolved into a modern, prosperous nation that is participating in the general political and economic integration of Europe However, in spite of it was one of first to join the EU (in 1973), the country has opted out of certain elements of the European Union's Maastricht Treaty, including the European Economic and Monetary Union (EMU).

Danes are 5.5 million people in a territory of 43.000 square kilometers (the world's 134th as territory extension), living in a modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade.

Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, continued to decline in 2011 though at a slower pace. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.8% in 2008 and 5.8% in 2009 followed by a modest recovery in 2010 and 2011. However, Denmark maintained a healthy budget surplus for many years up to 2008. The pro capita revenue at US$ 37.600 (2011) is among the top in EU while the unemployment rate at 6% (2011) is among the lowest.

Croatia

Country Overview

The republic of Croatia was established in 1991 as former Yugoslavia was split and only in the 1995 the new State was freedom from the war against Serbia. In April 2009, Croatia joined NATO and in January 2012 ratified the EU Accession Treaty with a target to join EU in July 2013. Current population counts over 4.5 million people with pro-capita revenue of US $ 18.400 (2011).

At the depressed economy left by former socialist Yugoslavia, the war further reduced income and richness of the new State, which in mid nineties' was weak in terms of infrastructures and low attractive for international investments. In its first years of life the new republic struggled to find a development trend while a robust GDP growth was in place between 2000 and 2007, with steady GDP growth between 4% and 6% led by a rebound in tourism and credit-driven consumer spending.

The 2008 global economic crisis found the country still weak and GDP fell 6% in 2009 and was not able to recover so far, with GDP down 1.2% in 2010 and flat in 2011. Inflation remains low (2.1% in 2011) as the public debt/GDP ratio is under control (in 2011 at 43.9%), while unemployment rate at 17% is a clear indicator of lack-ness of strong drivers for the economy.

Serbia

Country Overview

The Serbia republic is trying to emerge after over 20 years of wars, internal conflicts and international isolation due to heavy infraction to civil rights. The independence of Kosovo regions still is an open issue while in recent years, wishing to improve the economy, the government operated to improve international relations, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the European Community in February 2010, followed by the recent candidate status request.

Serbia is also pursuing membership in the World Trade Organization, and accession negotiations are at an advanced stage. Structural economic reforms needed to ensure the country's long-term prosperity have largely stalled since the onset of the global financial crisis.

However, Serbia is slowly recovering from the crisis with the GDP flat in the period 2009-2011. The country is facing high unemployment and stagnant household, high government expenditures for salaries, pensions and unemployment benefits, a growing need for new government borrowing and rising public and private foreign debt.

Iceland

Country Overview

The Republic of Iceland is a large island in the North Atlantic Ocean. The economy depends heavily on the fishing industry, which provides 40% of export earnings, more than 12% of GDP, and employs 7% of the work force. It remains sensitive to declining fish stocks as well as to fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, particularly within the fields of software production, biotechnology, and tourism. Abundant geothermal and hydropower sources have attracted substantial foreign investment in the aluminum sector, boosted economic growth, and sparked some interest from high-tech firms looking to establish data centers using cheap green energy, although the financial crisis has put several investment projects on hold.

Much of Iceland's economic growth in the last twenty years derived by the rapid expansion of the country's financial sector. Domestic banks expanded aggressively in foreign markets, and consumers and businesses borrowed heavily in foreign currencies, following the privatization of the banking sector in the early 2000s. Prior to the 2008 crisis, Iceland had achieved high growth, low unemployment, and a remarkably even distribution of income. Worsening global financial conditions throughout 2008 resulted in a sharp depreciation of the krona. The foreign exposure of Icelandic banks, whose loans and other assets totaled more than 10 times the country's GDP, became unsustainable. Iceland's three largest banks collapsed in late 2008. The country secured over $10 billion in loans from the IMF and other countries to stabilize its currency and financial sector, and to back government guarantees for foreign deposits in Icelandic banks. GDP fell 6.8% in 2009 and 4.0% in the 2010, recovering only 2.4% in 2011 and 2012.