Even if European automakers shake off the expected recession, weather the inflationary storm and face down the China challenge, they’ll have to face intensifying competition as production shakes off the semiconductor shortage straitjacket. A trade war with the U.S. could have nasty consequences.
Stellantis CEO Carlos Tavares’ fears restructuring might be unavoidable came early in the year, when Ford Europe said it needed to be more competitive as the industry transitioned to electric cars. German unions said job cuts might reach 3,200 across Ford Europe.
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