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Latest Economic News

The crisis of the European car industry: electric vehicles, duties and loss of markets

March, 28 2025

The European automotive industry is experiencing a deep crisis caused by rising fuel prices, the popularity of electric vehicles and increased Chinese competition. Major car companies such as Volkswagen, BMW and Mercedes-Benz have started to cut staff due to falling profits. Europe's technological lag in the production of electric vehicles reinforces the problem. Despite EU subsidies, the share of electric vehicles in 2024 decreased to 13.6% from 14.6% a year earlier, while in China it is a... Read More

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