Tag #European Automotive Industry

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es.euronews.com

🌐 85% Global Worthiness

Sep 12, 13:23

European Auto Industry Seeks EU Support Amidst Crisis

Facing energy price hikes, global competition, and regulatory uncertainty, the European auto industry is urging the EU for support, specifically recalibrating CO2 targets, strengthening enabling conditions, safeguarding technological neutrality, boosting competitiveness and resilience, and adopting ...

European Auto Industry Seeks EU Support Amidst Crisis

Facing energy price hikes, global competition, and regulatory uncertainty, the European auto industry is urging the EU for support, specifically recalibrating CO2 targets, strengthening enabling conditions, safeguarding technological neutrality, boosting competitiveness and resilience, and adopting ...

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What are the main demands of the European automotive industry to address these challenges?

The industry seeks recalibration of CO2 reduction targets to remain competitive while meeting climate goals. They also demand stronger incentives for zero-emission vehicles, improved infrastructure, and technological neutrality, allowing for diverse solutions beyond battery electric vehicles. Furthermore, they push for resilient supply chains for batteries, semiconductors, and raw materials.

forbes.com

🌐 85% Global Worthiness

Apr 15, 22:17

Stagnant European Auto Sales Amidst Tariffs and EV Competition

Forecasts for European sedan and SUV sales in 2024 and 2025 predict stagnation or modest growth, a sharp contrast to the pre-Covid peak of 14.3 million in 2019, primarily due to US tariffs and Chinese EV competition, leading to potential industry consolidation and transformation.

Stagnant European Auto Sales Amidst Tariffs and EV Competition

Forecasts for European sedan and SUV sales in 2024 and 2025 predict stagnation or modest growth, a sharp contrast to the pre-Covid peak of 14.3 million in 2019, primarily due to US tariffs and Chinese EV competition, leading to potential industry consolidation and transformation.

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What is the outlook for European automotive sales in 2024 and 2025, and what are the primary factors driving this forecast?

European automotive sales are forecast to be stagnant or see only modest gains in 2024 and 2025, a significant drop from the 14.3 million peak in 2019. This is due in part to President Trump's tariffs on European auto imports and the rise of Chinese electric vehicle manufacturers.

repubblica.it

🌐 85% Global Worthiness

Mar 12, 01:11

Hyundai to Produce Electric Vehicles in Turkey

Hyundai will start producing electric vehicles at its renamed Hyundai Motor Türkiye plant in Izmit, Turkey, increasing its European EV capacity, reducing its carbon footprint, supporting the local economy, and accelerating its sustainable mobility transition, aiming for zero-emission vehicles in Eur...

Hyundai to Produce Electric Vehicles in Turkey

Hyundai will start producing electric vehicles at its renamed Hyundai Motor Türkiye plant in Izmit, Turkey, increasing its European EV capacity, reducing its carbon footprint, supporting the local economy, and accelerating its sustainable mobility transition, aiming for zero-emission vehicles in Eur...

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How does Hyundai's Izmit plant contribute to the company's broader sustainability goals?

This expansion connects to Hyundai's broader strategy of increasing EV production in Europe to meet growing demand and comply with stricter emissions regulations. The Izmit plant's focus on local sourcing (55% of components) further supports the Turkish economy and reduces transportation emissions.

it.euronews.com

🌐 85% Global Worthiness

Jan 31, 01:09

EU Automotive Industry Faces Crisis Amidst High Energy Costs and Global Competition

High energy costs, Asian competition, and electric vehicle transition costs are severely impacting the European automotive industry, prompting the EU Commission to initiate a dialogue with key players to address the challenges and present an action plan by March 5th.

EU Automotive Industry Faces Crisis Amidst High Energy Costs and Global Competition

High energy costs, Asian competition, and electric vehicle transition costs are severely impacting the European automotive industry, prompting the EU Commission to initiate a dialogue with key players to address the challenges and present an action plan by March 5th.

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How will the EU's plan to phase out internal combustion engine vehicles by 2035 impact the industry's competitiveness and employment levels?

The EU's competitiveness is threatened by high energy costs, burdensome regulations, and competition from China and the US. The industry's innovation is stifled by complex permitting processes and regulations that hinder production efficiency. This situation prompted the European Commission to seek dialogue with major players to address these issues.

repubblica.it

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Jan 21, 07:09

EU to Review 2035 Zero-Emission Vehicle Mandate Amidst Industry Concerns

Italy is pushing for a 2025 review of the EU's plan to mandate zero-emission vehicles by 2035, amid slow market growth (1% in 2024 compared to an 18% decline from 2019) and concerns about the transition's impact on the European automotive industry.

EU to Review 2035 Zero-Emission Vehicle Mandate Amidst Industry Concerns

Italy is pushing for a 2025 review of the EU's plan to mandate zero-emission vehicles by 2035, amid slow market growth (1% in 2024 compared to an 18% decline from 2019) and concerns about the transition's impact on the European automotive industry.

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What immediate actions are being taken to address the challenges faced by the European automotive industry in meeting the 2035 zero-emission vehicle mandate?

The European Union's automotive industry faces a significant challenge: meeting the 2035 deadline for zero-emission vehicles. Current market data reveals a mere 1% growth in 2024 compared to 2019, an 18% decline. This has prompted Italian Minister Adolfo Urso to push for a 2025 review of the transition plan, aiming to adjust the approach to reach the 2035 goal.

cincodias.elpais.com

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Dec 9, 10:09

"European Automakers Face Perfect Storm as Ferrari Soars"

"European automakers face a challenging outlook until 2025 due to price pressure from Chinese competitors, loss of market share in China, stricter emissions regulations, and weak demand; Ferrari, however, is an exception, showing a 39.6% stock increase in 2024."

"European Automakers Face Perfect Storm as Ferrari Soars"

"European automakers face a challenging outlook until 2025 due to price pressure from Chinese competitors, loss of market share in China, stricter emissions regulations, and weak demand; Ferrari, however, is an exception, showing a 39.6% stock increase in 2024."

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"What are the key factors contributing to the underperformance of the European automotive sector compared to Ferrari's success?"

"Ferrari is outperforming its European automotive counterparts, with a 39.6% increase in its stock price this year. In contrast, major European automakers like Mercedes, Porsche, BMW, Volkswagen, and Stellantis have seen losses exceeding 15% due to a confluence of negative factors.", "UBS forecasts a downturn in the European automotive sector until 2025, citing factors such as price pressure from Chinese competition, loss of market share in China, stricter emissions regulations, and weak demand.", "The sector's valuation is 30% below its historical average, and investors remain cautious despite restructuring efforts. UBS's pessimistic outlook projects a 10-15% lower operating profit than market consensus, highlighting the severity of the challenges."

elmundo.es

🌐 75% Global Worthiness

May 7, 04:14

De Meo Critiques European Auto Industry, Highlights Software's Growing Importance

Luca de Meo launched the Spanish edition of his book, "Diccionario sentimental del Automóvil," in Barcelona, criticizing the Spanish auto industry's lack of high-value jobs while highlighting the importance of software and potential collaboration with China in the electric vehicle market. He also wa...

De Meo Critiques European Auto Industry, Highlights Software's Growing Importance

Luca de Meo launched the Spanish edition of his book, "Diccionario sentimental del Automóvil," in Barcelona, criticizing the Spanish auto industry's lack of high-value jobs while highlighting the importance of software and potential collaboration with China in the electric vehicle market. He also wa...

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What are the most significant challenges facing the European automotive industry, according to Luca de Meo?

Luca de Meo, CEO of Renault and former Seat president, launched the Spanish edition of his book, "Diccionario sentimental del Automóvil." He criticized the Spanish auto industry for lacking high-value jobs, despite its competitiveness. De Meo highlighted the growing importance of software in cars, representing 40% of their value.

repubblica.it

🌐 85% Global Worthiness

Mar 14, 16:11

Seat Group Reports Record 2024 Profits Amidst Market Uncertainty

In 2024, Seat Group achieved record operating profit of €633 million (up 1.3% from 2023) and €14.5 billion turnover, driven by a four-pillar strategy including Cupra's growth, cost reduction, Seat's sales increase, and major investments. The Martorell plant is becoming a major electric vehicle hub, ...

Seat Group Reports Record 2024 Profits Amidst Market Uncertainty

In 2024, Seat Group achieved record operating profit of €633 million (up 1.3% from 2023) and €14.5 billion turnover, driven by a four-pillar strategy including Cupra's growth, cost reduction, Seat's sales increase, and major investments. The Martorell plant is becoming a major electric vehicle hub, ...

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How did Seat's strategic investments and restructuring efforts impact its profitability and competitiveness?

The company's success stems from a four-pillar strategy: Cupra's growth (800,000 units sold in 2024, projected to reach 1 million by the end of 2025); a 30% reduction in fixed costs; Seat's 7.5% sales increase; and €5.4 billion invested over five years. This strategic approach enabled Seat to navigate the challenges of slowing electric vehicle sales, increasing Chinese competition, and unstable tariffs.",

elpais.com

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Feb 20, 07:11

European Auto Component Sector Suffers 12.17% Stock Market Decline in 2024

The European automotive component sector faced a challenging 2024, marked by a 12.17% stock market decline, 54,000 job losses, and intensified competition from China, leading to uncertainty and challenges for companies like Valeo, Continental, and SMEs.

European Auto Component Sector Suffers 12.17% Stock Market Decline in 2024

The European automotive component sector faced a challenging 2024, marked by a 12.17% stock market decline, 54,000 job losses, and intensified competition from China, leading to uncertainty and challenges for companies like Valeo, Continental, and SMEs.

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How do the stagnation of electric vehicle sales in Europe and the rise of Chinese competition affect the European automotive component industry?

The downturn is attributed to several factors: stagnation in European electric vehicle sales (despite growth in China), flat overall car sales, and increased competition from Chinese manufacturers. This challenge is further exacerbated by a widening competitiveness gap between China and Europe (25 points since COVID), impacting the European sector's privileged position. The situation is particularly difficult for SMEs due to financing issues.

it.euronews.com

🌐 85% Global Worthiness

Jan 22, 04:11

European Auto Industry Faces 2024 Challenges Amidst EV Transition

The European automotive industry anticipates a difficult 2024 despite rising EV sales, facing challenges from reduced government subsidies, stringent CO2 emission targets, and increased tariffs on Chinese EV imports, impacting profitability and R&D investment.

European Auto Industry Faces 2024 Challenges Amidst EV Transition

The European automotive industry anticipates a difficult 2024 despite rising EV sales, facing challenges from reduced government subsidies, stringent CO2 emission targets, and increased tariffs on Chinese EV imports, impacting profitability and R&D investment.

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How have government policies and market dynamics influenced the transition to electric vehicles in Europe?

The shift to EVs, while spurred by incentives, has strained manufacturers' resources. Reduced government subsidies in 2023 hampered EV sales, and projected 2024 sales (1.9 million, 16.6% market share) fall short of the EU's 80% EV sales target by 2030. This is further complicated by higher EU tariffs on Chinese EV imports and the possibility of retaliatory tariffs from China.

repubblica.it

🌐 85% Global Worthiness

Dec 19, 16:12

EU to Launch Strategic Dialogue on Automotive Industry's Future

The European Commission will launch a strategic dialogue in January to address the challenges facing Europe's automotive industry, focusing on innovation, decarbonization, and job creation to ensure its global competitiveness.

EU to Launch Strategic Dialogue on Automotive Industry's Future

The European Commission will launch a strategic dialogue in January to address the challenges facing Europe's automotive industry, focusing on innovation, decarbonization, and job creation to ensure its global competitiveness.

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How will the dialogue address the social and economic impacts of the automotive industry's transition, particularly regarding job security and skills development?

This dialogue aims to foster innovation, digitalization, decarbonization, and address workforce challenges within the automotive sector. It will involve key stakeholders including automakers, suppliers, unions, and associations, working to create a comprehensive EU strategy. This collaborative approach aims to ensure Europe maintains its leadership in automotive manufacturing.

Showing 1 to 11 of 11 results