The auto industry’s ‘annus horribilis’: Trump’s tariffs, Chinese rivals and EV slowdown drag the sector into heavy losses

The auto industry’s ‘annus horribilis’: Trump’s tariffs, Chinese rivals and EV slowdown drag the sector into heavy losses

“Our business model has changed.” That’s what Oliver Blume, the chief executive of the Volkswagen Group, Europe’s largest automotive giant, said at a recent press conference in Madrid to present the new Cupra Raval. He was referring to the deeply challenging moment the industry as a whole is going through, one in which the center of innovation and production has shifted from Europe to China.Seguir leyendo