Italy urges EU to pause petrol car ban or risk industry’s collapse

Rome calls for review of ‘absurd’ EU target amid slowdown in electric car sales

Ministers from Giorgia Meloni’s government claimed the “absurd” policy was ideologically driven and required change to reflect the realities of the market. 

There has been growing unease across the Continent about a slowdown in demand for electric vehicles (EVs).

There are also concerns that Europe’s car industry is falling increasingly behind manufacturers in China and the US, which have benefitted from a flood of government subsidies. 

Last week, car giant Volkswagen warned it might close factories in Germany

Telegraph 9 September 2024

https://www.telegraph.co.uk/business/2024/09/09/melonis-italy-urges-brussels-delay-2035-petrol-car-ban/

BMW finds faulty brakes in 1.5 million vehicles

German carmakers are sinking deeper into a crisis undermining the future of the country’s most important industry

Bloomberg 10 September 2024

https://www.bloomberg.com/news/articles/2024-09-10/bmw-cuts-guidance-after-faulty-components-prompt-recall

Volkswagen - A global factory network, built for as many as 14 million vehicles, churned out barely 9 million vehicles last year, 

as the company’s electric vehicles struggled to win over customers in Europe and Chinese buyers flocked to domestic brands instead. 

https://englundmacro.blogspot.com/2024/09/sahra-wagenknecht-and-her-new-bsw-set.html