Europe Auto Industry Faces Perfect Storm, Lobby Group Says
- ACEA holding talks at EU level seeking urgent action
- Carmakers struggle with slow electric-car demand, high costs
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Europe’s automakers are facing deepening challenges as demand for EVs disappoints and costs rise, ahead of tougher new European Union regulation to reduce carbon emissions, according to the head of the region’s car lobby group.
The EU car industry is still “missing more than 2 million vehicles in the market and in factories” compared to pre-pandemic levels, Sigrid de Vries, director general of the lobby group, said Wednesday in an interview with Bloomberg Television. “That creates a lot of tension — we sometimes call it the almost perfect storm.”