... [+]“I do not see this parity getting close,” he told reporters at the show.
The list of no-shows included Stellantis’s Fiat, Maserati and Alfa-Romeo, VW and its Audi, Porsche, SEAT and Skoda subsidiaries, BMW and Mini, Hyundai and its Kia affiliate, Jaguar Land Rover, Toyota and Lexus, Mercedes, Subaru, Volvo, and Ford. “We recently lowered our global production outlook to zero growth in 2023, despite improving chip supply. Demand destruction no longer seems to be a vague risk, but has started to become a reality,” UBS said in a report.... [+]1) Global auto markets that shift from under to oversupply, with significant pricing- pressure as a result.3) Inflationary pressures that cannot be passed on.Berenberg Bank of Hamburg agrees things look bleak for Europe in 2023.
“The car markets in Europe will be stuck in a bind in 2023 while China’s car market is picking up speed again. And the USA is up and running thanks to the Biden administration’s Inflation Reduction Act with its “green” swing. This means that the USA is now also becoming an important market for electric cars and could overtake the EU in 2023,” Dudenhoeffer said.
Tavares also repeated his plea that the EU water down its plan to outlaw sales of new ICE vehicles by 2035, which also curbed sales of plug-in hybrid electric vehicles from 2030.
why?
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