As EU targets Chinese cars, European rivals sputter
Paris (AFP) Oct 4, 2024
As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear. German group Volkswagen, BMW, Mercedes and Stellantis, a 15-brand behemoth that includes Jeep, Fiat and Peugeot, have all issued profit warnings in recent weeks. Weaker demand for their cars in China, whose economy is slowing, and growing competition from cheaper Chines
As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear. German group Volkswagen, BMW, Mercedes and Stellantis, a 15-brand behemoth that includes Jeep, Fiat and Peugeot, have all issued profit warnings in recent weeks. Weaker demand for their cars in China, whose economy is slowing, and growing competition from cheaper Chines