EU, British Auto Makers Say Free Trade Deal Failure Will Cost $130 billion. “ONS data shows WTO might not be a disaster for U.K. Auto” The European Union (EU) and Britain must urgently seal a free-trade trade deal because failure would cost Europe’s automotive industry about €110 billion ($130 billion) in lost trade over five […]
Tag Archives | European
Europe Bottoms Out, But Bloated Industry Needs To Slash To Survive
Europe Bottoms Out, But Bloated Industry Needs To Slash To Survive. “The fact remains the Western European auto market is in deep crisis” Europe’s carmakers look like avoiding the worst predictions of coronavirus disaster, but that won’t avoid severe pain in the industry because it has too many factories and workers and needs cuts to […]
Europe Must Make Electric Cars For Mass Market
Europe Must Make Electric Cars For Mass Market. European carmakers must develop an affordable electric car, but they are heading down a blind alley, obsessed with trying to match high-priced Tesla’s electric car success, instead of producing battery vehicles for the mass market. They run the risk of losing sales to Chinese vehicles like the […]
Daimler Report Suggests European Auto Recovery Has Started
Daimler Report Suggests European Auto Recovery Has Started. “We are now seeing the first signs of a sales recovery – especially at Mercedes-Benz cars” Mercedes parent company Daimler’s shares soared by more than 5%, after it, and to a lesser extent Volvo earlier, pointed to evidence the coronavirus slump had bottomed out and recovery in […]
Europe Faces Biggest Threat From Coronavirus
Europe Faces Biggest Threat From Coronavirus. “The auto industry is much better prepared than for the 2008-2009 recession, with ample liquidity, more manageable cost structures, more efficient automotive supply chains and a focus on earning returns” Europe’s auto industry will be the hardest hit by the coronavirus crisis, but sales loss projections are being scaled […]
Europe’s Car Sales Fall Slows, With France Posting Positive
Europe’s Car Sales Fall Slows, With France Posting Positive. “We expect selling rates to continue on their generally upward trajectory over the second half of the year, in a clear but uneven recovery” Plummeting sales of cars and SUVs in Western Europe slowed in June to down 24.8%, compared with a fall of 57.3% the […]
Europe’s Auto Makers Will Be Vulnerable To Chinese Incursions
Europe’s Auto Makers Will Be Vulnerable To Chinese Incursions. “Will there be deaths? I’m not sure anyone will disappear but some massive things will happen. There will be big changes, with China going after and buying companies” The European automotive industry is recovering from the depths of a coronavirus-crisis induced collapse in sales, but some […]
Europe Auto Business Levels Out, Hopes For Healthy Recovery
Europe Auto Business Levels Out, Hopes For Healthy Recovery. “Before the downturn, there was going to be a desert of profits in 2020. Now the desert is even drier” European auto makers are picking themselves up, dusting themselves down, hoping that the worst is over, praying for a “V”-shaped recovery, and wondering what the Americans […]
Europe’s Virus Infected Car Sales Fall Nearly 60% In May
Europe’s Virus Infected Car Sales Fall Nearly 60% In May. “dependent on various scenarios such as 2nd corona wave which could once again shutter key production and distribution networks” European car sales perked up a little bit in May after April’s near- death coronavirus-induced experience, while forecasts for the rest of the year and longer […]
European Union Auto Sales Plummet More Than 50% In March
European Union Auto Sales Plummet More Than 50% In March. “A second wave of the Covid-19 outbreak could stall the recovery” Sales of cars and SUVs in the European Union (EU) plummeted a record 55% in March as showrooms and factories closed because of the coronavirus crisis, and amongst the big manufacturers, BMW emerged as […]