Summary
The global auto industry, once buoyed by pandemic-era shortages and high prices, is now facing significant challenges.
Major automakers like Nissan, Ford, and Volkswagen are cutting thousands of jobs and closing factories due to falling demand, competition from Chinese carmakers, and rising protectionism.
Chinese brands, offering cheaper and innovative vehicles, are gaining market share, pressuring Western automakers, particularly in China.
The shift to electric vehicles (EVs) is proving costly, with sluggish demand in some markets and government subsidies declining. Some companies, like GM and Toyota, are faring better with strategic EV and hybrid models.
Can confirm, I waited 6 months for a new car delivery (off catalogue, it wasn’t anything fancy or custom) and when delivered it lacked some electronic functions they promised at sale. At least I got a discount.