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Reuters

European automakers urge support as VW warns of 'enormous pressure'

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European automakers urge support as VW warns of 'enormous pressure'
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European automakers urged policymakers to do more as competition from China and the shift to electric vehicles intensify. Speaking alongside the Paris motor show on Tuesday, Volkswagen CEO Oliver Blume said the industry is under “enormous pressure,” renewing calls for more flexible regulation and incentives to support local manufacturing. The pressure comes as BMW and Stellantis reported weaker deliveries: BMW’s global deliveries fell 6.4% in the third quarter, with sales in China down a quarter, while Stellantis shipments fell 1% after a summer North America production shutdown. The EU’s deal to cut Chinese hybrid exports by more than half was welcomed, but firms said high energy costs and EV transition support are still lacking. Stellantis warned it may need to cut European production by about 300,000 vehicles if 2030 CO2 targets aren’t handled flexibly.

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