THE Association of European Automobile Manufacturers' Association (ACEA) has re-elected Bernd Pischetsrieder as its president.

It means Pischetsrieder, who is chairman of Volkswagen, will serve a second consecutive term as president.

He said: '2004 has been a year of significant changes in the European Union: the accession of 10 new member states, the completion of the reform process of the EU institutions and the incumbency of a new parliament and a new commission are shaping up a new Europe.

'This is happening in an economic context that remains challenging and where competitiveness of our industries needs to be put on top of the political agendas. A strengthening of the EU industrial policy is essential for the automotive sector, in order to continue contributing to Europe's wealth and innovation, providing sustainable mobility and fulfilling its societal responsibilities in key areas such as environment protection and road safety.'