The European automotive sector is facing significant challenges, with declining sales, job cuts, and labor unrest as companies like Volkswagen and Stellantis struggle to adapt to tighter regulations and shifting market demands. Analysts predict a tumultuous 2025, exacerbated by potential trade wars and stagnant EV demand, leading to unprecedented factory closures and employee protests. The situation reflects a broader economic downturn, with the auto industry’s struggles impacting Germany's economy and political landscape.
Stellantis CEO Carlos Tavares has resigned amid growing disagreements with the board of directors, effective immediately. The company is in the process of appointing a new CEO, with an interim executive committee led by chairman John Elkann. Tavares had been at the helm since the 2021 merger of Fiat Chrysler and PSA Groupe.
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