Renault, Volkswagen, Mercedes overtaken: the end of the European car?
Chronic
Whether electric or autonomous, European cars have fallen into the second technological division. Today, all the innovations are happening in China.
After abruptly stepping down as Renault CEO in June, Luca de Meo has given some explanations to keep Billancourt from losing hope . He's leaving for the luxury sector—to head the Kering group with its Gucci and Saint Laurent brands—because he was starting to go around in circles in the automotive industry. But is that really the real story? It's impossible to believe that the challenges facing a group like Renault wouldn't be enough to stimulate an old hand like him... unless he thinks that Europe's leading industrial sector is doomed to inevitable decline.
The signs of the rout are numerous. First, the commercial decline. For the past five years, vehicle sales have been falling across Europe by around 20%, or, in France alone, 500,000 fewer new cars per year. Why this disaffection? First, car prices have risen sharply. This is due to new standards imposed by Brussels to increase passenger safety and combat pollution. But also because...
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