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Spirethoughts

Spire's six most recent Spirethoughts.

Crude oil prices and the environment
Productivity & Efficiency – the new WFH buzzwords
Will Smart Health & Safety products ride Covid-19’s coattails?
Will Smart Health & Safety products ride Covid-19’s coattails?
Awareness and adoption of Sustainable Smart Technology
Technology security and privacy concerns have become critical to consumers
Technology security and privacy concerns have become critical to consu...
Airlines caught in Covid turbulence

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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