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Automakers Thrived in the Pandemic. Many Are Now Struggling.

^{Published on 2024-12-15 03:21:30 - The New York Times}

"The Chinese are winning market share and the Germans are losing," said Ferdinand Dudenh
ffer, director of the Center for Automotive Research in Bochum, Germany. "It's not only the electric cars, it's the software in the cars." Changing ...

The article from The New York Times, published on December 15, 2024, discusses the challenges faced by automakers in the current economic climate. It highlights how traditional car manufacturers are grappling with the shift towards electric vehicles (EVs), increased competition from new entrants like Tesla and Chinese EV makers, and the lingering effects of supply chain disruptions. The piece details how legacy automakers are struggling to adapt their business models to meet new consumer demands for sustainability and technology integration. Additionally, it covers the financial strain due to high production costs, the need for significant investment in EV technology, and the impact of regulatory changes aimed at reducing emissions. The article also touches on labor issues, with unions pushing for better wages and job security amidst the industry's transformation, and how these factors are collectively putting pressure on automakers' profitability and market share.

Read the Full The New York Times Article at:
[ https://www.nytimes.com/2024/12/15/business/automakers-trouble.html ]

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