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The automotive industry is facing broader challenges beyond U.S. tariff policies. In Europe, vehicle sales grew by less than 1%, totaling 12.9 million units, while electric vehicle sales fell by 1.3%. Meanwhile, Honda and Nissan are addressing internal issues, with Nissan planning to cut 9,000 jobs and reduce production by 20%.
Electric Vehicle Market Developments
Ford is experiencing difficulties with the F-150 Lightning, which is poised to exit production by mid-2027 without a clear successor. Despite initial overwhelming demand for the model, rising prices and production challenges have dampened its success. Ford is launching a new off-road variant of the Ranger in China, but overall, full-size electric pickups remain a struggle for the industry.