Eight EU car factories may close

The European auto industry is experiencing one of its deepest crises in decades. Up to eight factories may close in the coming years due to low capacity utilization and the threat of their products being replaced by Chinese brands, Bloomberg reports.

The Chinese auto industry is rapidly expanding globally, surpassing Germany and Japan in exports. In 2024, Chinese car sales reached 31 million units, exceeding the combined sales of the US and EU. This figure is expected to be even higher in 2025.