Fake tires and counterfeit batteries cost 8,400 jobs

The European Union for intellectual property quantifies the direct loss from "similar" tires and batteries
Fake tires and counterfeit batteries cost 8,400 jobs
26 February 13:53 2018 Print This Article

In the European Union, the sale of fake tires and “equivalent” batteries causes € 2.4 billion to be lost each year due to lost sales by legitimate producers. The data can also be expressed as follows: 8,400 less jobs due to lack of recruitment. The cut in public revenues due to the counterfeiting of tires and batteries for uncollected taxes amounts to 340 million euros. The figure emerges from a study by the European Union Intellectual Property Office (EUIPO). In particular, in Italy the damage to the industry caused by the counterfeiting of tires and batteries amounts to 274 million euros per year. Of these, 256 million derive from tires (for a shortfall of 5.9% for the legitimate industry) and 18 million from batteries (-1.5% for the legitimate industry). The study specifies that every year the EU loses because of the counterfeiting of tires 2.2 billion euros, equal to 7.5% of all sales in the sector. While the presence of counterfeit batteries costs the legitimate industry 180 million euros a year, 1.8% of sales in the sector. Counterfeit batteries negatively affect the automotive industry, but are also present in mobile phones.

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