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Spirethoughts

Spire's six most recent Spirethoughts.

Drones are delivering medicine in Africa
Nigeria has entered the AFCFTA African free trade agreement, increasin...
IT investments to pour into India’s healthcare sector
The European Union-Vietnam Free Trade Agreement (EVFTA) is set to open...
Deploying Industry 4.0 technology to mitigate climate change
Deploying Industry 4.0 technology to mitigate climate change
Will cost-effective compost rejuvenate African agriculture
Will compost turn out to be the magic mineral for African agriculture?

The fall of Europe’s auto sector and the rise of China’s

European auto sales have seen a sharp decline for the past 16 months, and a 17-year low in sales was recorded in 2012. This is largely due to the financial crisis which resulted in rising taxes, cost-cutting, as well as slowing demand in automotives. This has also forced many European groups to declare job cuts and plant closures. French automakers, in particular, are being hard-hit; with Renault being the latest company to announce 7,500 job cuts (17% of its workforce) in January  this year.

On the other hand, China’s automobile industry is thriving. It is emerging as the world’s leading automobile producer, overtaking Japan, the United States and Europe. China is forecasted to produce more cars than Europe for the first time; with 19.6 million cars and light vehicles, compared to Europe’s 18.3 million. This figure is 10 times higher than in 2000, when China’s share of the global industry was a mere 3.5% compared to its likely 23.8% this year.

Can China continue to sustain its dominance in this industry?

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