A German Analyst Believes European Auto Industry Is Heading For Doom

Times are challenging for the European auto industry, and some are ready to go even further and declare them catastrophic. When such estimates are presented by the respected German automotive analyst Ferdinand Dudenhöffer, then one needs to think further.

– We are increasingly saying goodbye to the European automotive industry, explained Ferdinand Dudenhöffer for the Austrian Ö1 Mittagsjournal. The Italian government is currently trying to attract as many Chinese car manufacturers as possible. The expert said that partnerships with China in the e-car sector, such as the Italian one with Dongfeng, could succeed because the Chinese understand electric cars much better than European manufacturers. With large production numbers and cheaper batteries, they have all the prerequisites for more affordable cars.

Europe slept through the crucial time in this race. The path of the Italian government is welcome, believes the analyst and announces that electric cars are the future. We need an increase, we need subsidies for everything, the economist explains, and he also demands public money so that Chinese manufacturers can produce here. However, the European Union’s high tariffs on Chinese vehicles as a protection for European manufacturers is a miscalculation.

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