Soaring Energy Costs Could Cripple Europe’s Car Manufacturing Industry

Europe’s energy crisis and soaring energy costs for the industry could result in Europe-based auto manufacturers losing up to 1 million units of production per quarter between this quarter and the end of 2023, S&P Global Mobility said in a new report on Tuesday. The energy-intensive auto manufacturing sector in Europe faces additional pressure from soaring energy costs in the coming months, on top of supply chain issues with semiconductors that started with the COVID pandemic, wrote Calum MacRae, Director, Supply Chain & Technology,…