Intense difficulties in local markets are forcing European parts suppliers to rethink their business strategies, to look further afield for growth opportunities and to redefine their business models, according to the European suppliers association CLEPA.

“Growth in the next 10 years will come outside of Europe, with Asia accounting for 80 percent of that. It is therefore paramount that automotive suppliers learn to manage and market their innovations in international markets,” CLEPA CEO Jean-Marc Gales said.