Ford cuts jobs in EU due to weak EV demand & Chinese rivals
On Wednesday, November 20, Ford announced it would cut about 14% of its European workforce. The legacy automaker cited weak demand for electric vehicles (EVs), poor government support, and competition from Chinese rivals for job cuts.
Ford stated that about 4,000 jobs would be cut in Germany and Britain, representing about 2.3% of its total workforce of 174,000 in Europe. Ford’s announcement came after other legacy automakers, including Nissan, Stellantis, and General Motors, stated they would be cutting costs.
All the automakers cutting costs have cited EV demand as an issue, stating that electric vehicles were too expensive for consumers.
In August, EV sales were down by nearly 44% in Europe. EV sales were down by double-digits in major car EU car markets like Germany, France, and Italy. For instance, Germany reported a 68.8% drop in EV sales for August.
Germany abruptly ended its EV incentive program in December 2023, which has been cited as a reason for the drop in EV sales in 2024. Other European countries have also followed Germany and ended EV incentive programs.
Automakers from China have also become a growing concern for car makers seeking to grow market share in Europe. Chinese automakers usually offer lower prices than their competitors, like Ford or Stellantis. The lower prices of Chinese cars are challenging to compete with for non-Chinese automakers.
The Teslarati team would appreciate hearing from you. If you have any tips, contact me at [email protected] or via Twitter @Writer_01001101.
The post Ford cuts jobs in EU due to weak EV demand & Chinese rivals appeared first on TESLARATI.
Source: https://www.teslarati.com/ford-job-cuts-eu/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.