'action Plan' In The Works To Help Solve Europe's Auto Industry Crisis

Leaders of the European Union EU have promised an 'action plan' to help the bloc's beleaguered automotive sector, as they held talks with industry leaders who have sounded the alarm over emissions fines and Chinese competition.

The region is under pressure to help a sector that employs 13 million people and accounts for about seven percent of the bloc's GDP, as it seeks to revamp the continent's lagging competitiveness.

'The European automotive industry is at a pivotal moment, and we acknowledge the challenges it faces. That is why we are acting swiftly to address them,' EU chief Ursula von der Leyen said, promising an 'action plan' by early March.

Chaired by the European Commission president, the so-called 'strategic dialogue' brought together carmakers, suppliers, civil society groups and trade unions.

Representatives of 22 industry 'players' including Volkswagen, BMW, Mercedes and Renault, were in attendance, the commission said.