Well…huh?
I wonder why?
Mandates and Green dreams still can’t change what people want and are willing to pay for, it seems.
European automotive suppliers are experiencing unprecedented turbulence as electric vehicle market uncertainties trigger a wave of dramatic workforce reductions. Major manufacturers are confronting a perfect storm of economic challenges that threaten the industry’s traditional foundations.
In a stark illustration of the sector’s volatility Robert Bosch, ZF Friedrichshafen, Continental and Schaeffler have collectively announced 54,000 job cuts in 2024. This figure represents a record number of redundancies surpassing those announced during the pandemic years of 2020 and 2021 combined according to the European Association of Automotive Suppliers (CLEPA).
The projections for a 2025 rebound in EV sales come on the heels of retooled models – smaller and cheaper – along with a big favorite of any industry dependent on government largesse: handouts. As much as they’d sworn not to subsidize further what they were forcing Europeans into against their will, the Brahmins of Brussels are going to have to fork over more cash to do.
This time, the competition from cheaper Chinese imports is the excuse for an industry that has consistently proven it cannot stand on its own feet by virtue of customer demand. […]
— Read More: hotair.com
- Gold SKYROCKETED during Trump’s first term and is poised to do it again. Find out how Genesis Precious Metals can help you secure your retirement with a proper self-directed IRA backed by physical precious metals.
