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french automotive suppliers association warns: auto industry faces risk of losing half of its jobs

2024-09-18

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it home reported on september 18 that according to reuters, fiev, head of the french automotive suppliers association, warned today that the automotive industry is at risk of losing half of its jobs in the next few years, citing declining car sales, a slowing electric vehicle market and competition from china.

in addition, jean-louis pech, president of the french federation of the vehicle equipment industry, also said at a press conference, "given the current dynamics of the industry... unfortunately, it does not seem exaggerated that another half of the jobs will be lost in the next five years and it will happen soon."

earlier this month, volkswagen group announced that it "may have to" close its first factory in its "home country" germany, after canceling its three-decade-old job protection measures in germany. jefferies analysts said volkswagen may force through the decision to close factories this year, paving the way for the elimination of more than 15,000 jobs.

the company could close production facilities without the approval of the supervisory board, which has blocked management restructuring efforts in the past.

and yesterday, carlos tavares, ceo of auto giant stellantis, said that the company has taken action to try to avoid repeating the risk of factory closures and layoffs faced by its rival volkswagen, and the key lies in being able to sell electric vehicles at the same price as traditional gasoline models.