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German car makersCNBC
•85% Informative
Germany 's automotive sector is struggling to preserve its relevance in the age of electrification.
Major domestic manufacturers such as Volkswagen , Mercedes-Benz Group and BMW have issued profit warnings in recent weeks .
Headwinds come amid the specter of historic job cuts and possible German plant closures at Volkswagen , an abrupt end to Germany 's electric car subsidy program and Berlin 's recent failure to prevent fellow EU member states from voting in favor of EU tariffs on Chinese electric vehicles.
Poliscanova: "I think the German industry and some carmakers like Volkswagen do genuinely have serious problems globally. What I just don't believe is that this is all due to European regulations and electrification. It is a lot bigger than that," she said.
She said some of the challenges facing Europe 's auto giants include increased competition from China , the "patriotic" trend of Chinese consumers choosing to buy domestic vehicles.
VR Score
88
Informative language
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English
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