As the European auto industry navigates sales declines and underutilization, multiple manufacturers face potential factory closures, disrupted production, and an evolving market influenced heavily by competition from China.
According to Bloomberg Intelligence, one in three European factories from major carmakers like BMW, Mercedes, Stellantis, Renault, and Volkswagen are underutilized, revealing alarming trends in production capabilities.
The Stellantis factory in Mirafiori, Italy, has seen a staggering 60% drop in production of the Fiat 500e, highlighting the dire situation of electric vehicle sales in Europe.
Chief economist Carsten Brzeski notes that the European car industry is undergoing a structural transformation due to more electric mobility and increasing competition, particularly from China.
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