The European automotive industry is currently grappling with significant challenges, as many companies across the region announce layoffs and plant closures amid declining demand, high production costs, and intense competition, particularly from Chinese manufacturers. This seismic shift is forcing traditional OEMs (original equipment manufacturers) to reconsider their strategies and workforce needs dramatically.
On November 26, Stellantis, the carmaker known for brands like Vauxhall and Fiat, disclosed plans to shut down its van factory located in Luton, England. This closure puts more than 1,000 jobs at risk, indicating the considerable squeeze being felt by automotive companies as they navigate the disruption and necessary transitions within the sector. Just as concerning, Stellantis has repeatedly halted assembly operations at its Mirafiori plant in Italy due to sluggish demand, especially for the electric version of its popular Fiat 500 model.
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