The European car industry is currently in a state of crisis, with major manufacturers such as VW, Audi, and Nissan reporting significant declines in profits and implementing mass redundancies.

VW Group, for example, has seen a drastic 60 percent drop in profits for the third quarter, leading to cost-cutting measures such as plant closures and job cuts.

Suppliers like Schaeffler, Michelin, and Valeo are also feeling the impact, with protests arising due to the closure of Michelin's plants in France.

The overall business performance of key players like BMW, Mercedes, and Stellantis (which includes Fiat and Peugeot) reflects the dire situation of the industry.

Experts are expressing concerns about the long-term implications of these developments, suggesting that the policies of the European Union may be exacerbating the challenges faced by the automotive sector.

As the industry grapples with these issues, the future remains uncertain, with potential significant consequences for employment and economic stability in the region.