Europe: Car industry troubles continue

Latest developments:  Carlos Tavares, CEO of Stellantis, was dismissed. Stellantis plans to close its Luton van-making factory, risking 1,100 jobs. Nearly 100,000 Volkswagen workers in Germany participated in walkouts, as Volkswagen threatens to close plants in Germany for the first time in 87 years. IG Metall's chief negotiator Thorsten Groeger said: "This was the first, powerful impact of a winter of protest, Volkswagen should come to its senses and finally shelve its nightmare plans, otherwise our colleagues will find the right answer" 

Why This Matters: Indicates significant challenges in the European automotive industry. Highlights the impact of the transition to electric vehicles on manufacturing. Demonstrates growing tension between management and labor unions. Reflects broader issues of competitiveness and cost pressures in the sector.

What Happens Next:  Potential further restructuring and job losses in the automotive industry. Negotiations between unions and management at affected companies.  Possible revisions to EV transition targets by governments. Increased focus on cost-cutting measures and productivity improvements.