The US automotive industry already isn’t competitive abroad. This is only going to make it worse. Meanwhile the investors reap monopoly profits while the consumers pay the price. (And yes I know it’s technically an oligopoly.)
In terms of market share, the Volkswagen Group remains the market leader in the EU in December. The company from Lower Saxony secured 24.9 percent of the pie with all its brands. The Stellantis Group accounts for 16.7 percent with its brands. The Renault Group is in third place with 12.1 percent. The strongest individual brand in December 2022 was VW with a market share of 11.2 percent. Renault secured second place with 6.8%, just ahead of Mercedes (6.6%). Toyota (6.0%), BMW (5.8%), Audi (5.4%), Dacia (5.2%), Peugeot (4.8%), Skoda (4.4%), Hyundai (3.8%) and Ford (3.6%). Opel is on a par with its sister company Fiat with a market share of 3.3%, while Kia is just ahead of Seat (3.1%) with 3.2%. Volvo is ahead of Citroën with 2.7 percent.
The US automotive industry already isn’t competitive abroad. This is only going to make it worse. Meanwhile the investors reap monopoly profits while the consumers pay the price. (And yes I know it’s technically an oligopoly.)
American cars are incredibly popular in Europe.
https://www.auto-motor-und-sport.de/verkehr/eu-neuzulassungen-dezember-2022-gesamtjahr/
Yeah, Americans are absolutely dominating in Europe.