Chinese automakers' share of European market exceeds 10% for the first time

Chinese automakers' combined share of the European market has exceeded 10% for the first time in history.

European carmakers are facing difficulties:

▪️ Volkswagen plans to cut up to 100,000 jobs by 2030 and close four plants in Germany.

▪️ Mercedes has cancelled summer bonuses and launched a voluntary departure program, already taken up by 5,500 employees.

▪️ BMW will cut 10,000 jobs.