Connect with us

News

Top European Car Industry Executives Are Scared Of Chinese Competition

Published

on

Daimler Is Selling 25 Mercedes-Benz Dealerships Across Europe, May Generate $1.2B From It - autojosh

Top executives in the European car industry have become more pessimistic about the future than a year ago. They mainly fear more competition from cheaper Chinese electric cars.

Growing competition from American manufacturers, who produce electric cars with government support, also worries them. This is stated in a report by accounting and consulting firm KPMG.

In Europe, tax benefits and subsidies for electric cars are being phased out. European drivers are therefore more sceptical than their colleagues in other parts of the world about the moment when electric cars will cost the same as cars with combustion engines, without government support.

“Tax breaks and subsidies are very important to stimulate the growth of electric cars and to provide confidence to consumers, car manufacturers, suppliers, and investors,” said a KPMG researcher.





The Volkswagen Group - autojoshPorsche CEO Oliver Blume Becomes Volkswagen Group Chairman - autojosh





Autojosh.com is an authoritative car blog in Nigeria. Its objective is to get Nigerians and a wider audience to be more informed about automobiles, the automotive sector and transport infrastructure. Over the years, we have been instrumental in creating immeasurable public awareness about automobiles and their maintenance, safety and traffic laws, amongst others. ...Your mobility, our priority. EH

Trending