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KPMG Luxembourg hosted an automotive industry breakfast seminar on March 29, 2017 on the Plateau de Kirchberg to present KPMG’s Luxembourg Automotive Market Study 2017 as well as review KPMG’s Global Automotive Executive Survey 2017.  In addition Joost Ortjens, Head of Automotive Sector Development, Luxinnovation, was on hand to present the Luxembourg Automotive Sector.

It was a fitting start to an Automotive Market meeting that participants were greeted by a fantastic exhibition of sports and luxury cars early on their way to the KPMG seminar.

Bruno Magal (Manager Advisory, KPMG Luxembourg), Mr Louis Thomas (Partner Tax, KPMG Luxembourg) presented the findings of the Global Automotive Market Study and the third Luxembourg Automotive Study.

Globally, according to the survey, the automotive industry finds itself in a situation KPMG describes as “lost in translation” – or in a dilemma between the automotive and the digital worlds.

This year’s results strongly emphasised that, “ the car itself will continue to be a major revenue stream  but it will not be the only one and auto companies will have to develop new service-and data-driven business models together in one digital ecosystem” ensuring that the all-important customer is kept at the centre.

Key trends predicted to continue are topped by; the increasing importance of battery electric vehicles (BEVs), connectivity and digitalisation, and Fuel cell electric vehicles (FCEVs). For Joost Ortjens, Head of Luxembourg Automotive Components Sector, these top three trends clearly resonate with the Luxembourg sector.

A summary of the key figures: registrations, top brands, CO2 emissions etc.  This study closely follows the evolution of the automotive industry in Luxembourg which today results in About 1,5 billion € sales turnover, more than than 2.5 billion € additional turnover (equivalent) related to Luxembourg based R&D cost-centres and has about 10.000 employees in total along with 2.500 multi-lingual and multi-cultural professionals in R&D. The whole automotive sector was reviewed touching on such items as the number of jobs generated by the automobile sector in Luxembourg and vehicle taxation.

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