The auto industry’s ‘annus horribilis’: Trump’s tariffs, Chinese rivals and EV slowdown drag the sector into heavy losses
19 April 2026 at 04:00
“Our business model has changed.” That’s what Oliver Blume, the chief executive of the Volkswagen Group, Europe’s largest automotive giant, said at a recent press conference in Madrid to present the new Cupra Raval. He was referring to the deeply challenging moment the industry as a whole is going through, one in which the center of innovation and production has shifted from Europe to China.

© Mikel Jaso