The European auto industry is under increasing pressure due to a sharp rise in car supplies from China. This was stated by U.S. President Donald Trump during a speech at the General Motors plant in Michigan.
According to Trump, the European market is rapidly filling with Chinese cars, causing major European automakers, including Mercedes-Benz, BMW, and Volkswagen, to face serious competitive pressure. He noted that the strengthening of Chinese companies' positions poses a threat to traditional European automotive brands.
It was previously reported that major German automakers are preparing for large-scale job cuts amid intensifying competition from China. According to the publication, Volkswagen could cut up to 100,000 jobs by 2030, Mercedes-Benz has started voluntary layoff programs, and BMW plans to cut around 10,000 employees and has reduced its profit forecast.
According to Financial Times, in May, Volkswagen, Mercedes-Benz, Stellantis, and Renault lost market share in Europe, while the combined share of Chinese manufacturers, including BYD and Chery, exceeded 10% for the first time in history. At the same time, European auto concerns continue to face declining sales in China and rising trade risks in the U.S. market.
