KPMG's Automotive team focuses on assisting its firm’s clients to address key issues facing the Luxembourg automotive industry
KPMG's Automotive team focuses on assisting its firm’s clients to address key issues...
Luxembourg’s sound economic fundamentals, exceptional business environment, first-class infrastructure and social and political stability testify to its prime location for the automotive business and corporate headquarters. It's outstanding logistics facilities and connectivity offer real time access to major European car manufacturers and assembly plants. It is an ideal location for component suppliers and OEMs to deliver their products quickly and easily.
The current healthy situation of the Luxembourg automotive market should not however pull the veil over the range of mega trends that are blurring the traditional boundaries of the automotive model. Automakers face changing business models, environmental trends and risks, new technologies, strategic alliances and mergers, growth of emerging markets and overcapacity and excess production. These rapid changes are forcing a re-evaluation of traditional business models.
Aside of the automotive industry, Luxembourg remains a very dynamic market for automotive retails and leasing activities. The car park keeps growing every year despite the depressed economic situation in Europe. But the pressure on ecological friendly mobility and new challenges on automotives taxes put this market under pressure and we can expect visible changes in the coming years.
The Luxembourg Automotive Suppliers Industry, ILEA, provides a strategic forum for automotive suppliers in Luxembourg and addresses issues of common concern. Member companies represent more than 10,000 employees and are suppliers in the value chain of components, modules, systems, materials and equipments developed for the OEM industry.
KPMG Luxembourg's Automotive team is composed of experts in the fields of audit, tax and advisory. Our services focus on assisting our firm’s clients to address key issues facing the Luxembourg automotive industry, including: