Europe losing control of automotive industry to Chinese importers

Europe’s automotive parts industry is losing ground to Asian competitors, with structural shifts happening faster than European firms can adapt. Since 2018, EU production has fallen by about 15%, while China’s output has surged nearly 40% to over $380 billion annually, more than double Europe’s level.

Imports from Asia, especially China, continue to rise, exceeding €8 billion and accounting for nearly one-third of EU imports. Meanwhile, Europe’s trade surplus in automotive components has dropped by about 30% since 2021, turning into a deficit with China.

Industry experts warn this is a long-term shift rather than a cyclical change. To remain competitive, Europe must invest in innovation, particularly in electrification, software, and resilient supply chains.

(pb.pl)