European autos stocks wipe off $10 billion after Stellantis warning due to Chinese competition

[shockedcanadian]

MSS deserves all the credit in the world. Success after success, convincing capitalist nations to undermine their own energy and business policies, have them throw money into the black hole while China uses slave labour which some Western companies quietly leveraged. MSM was so in love with Chinas growth and opportunity, doing the work of the MSS to praise and encourage businesses to fund the communists.

Merkel in particular was a great leader...for China and Russia! Germany was the envy of the world for high paying, high tech manufacturing. Once they moved into China, MSS moved into their production plants I'm sure, if they didn't by default agree to share their IP. Brilliant really.

MSN

MILAN (Reuters) - European auto stocks tumbled almost 4% on Monday after a warning from Stellantis, Volkswagen and Aston rekindled concerns over the sector's earnings outlook in a year marred by slowing demand and aggressive Chinese competition.

The rout wiped off nearly $10 billion from the market value of the STOXX Auto & Parts index with Stellantis, listed in Paris and Milan, falling 14% after slashing forecasts and saying it would burn more cash than initially expected.

Stellantis, Europe's No. 5 carmaker by market value and owner of the Chrysler, Jeep, Fiat, Citroen and Peugeot brands, cited worsening industry trends, higher costs to overhaul its U.S. business and Chinese competition on electric vehicles.

 

[Crepitus]

Chrysler always ends up being dead weight no matter who buys it.

 

[Donald H]

China has no slave labour. That's just demonization of China because they are outperforming America.

And of course, America as expected is turning toward military aggression. It will be labelled as a fight against communism.

It's just not going to work this time unless Russia is reduced to being several smaller powerless states, instead of continuing on to superpower status within the Brics.

 

[Crepitus]

China has no slave labour.

LMAO

 

[Captain Caveman]

China has no slave labour. That's just demonization of China because they are outperforming America.

And of course, America as expected is turning toward military aggression. It will be labelled as a fight against communism.

It's just not going to work this time unless Russia is reduced to being several smaller powerless states, instead of continuing on to superpower status within the Brics.

Solar panels -

China uses Uyghur forced labour to make solar panels, says report

A report says 45% of the world's supply of a key panel component is obtained by a system of coercion.

www.bbc.co.uk

Temu -

Temu: Risk popular website sells forced labour goods

The claims arise from an investigation into a US law barring imports made with Uyghur labour.

www.bbc.co.uk

 

[Donald H]

Solar panels -

China uses Uyghur forced labour to make solar panels, says report

A report says 45% of the world's supply of a key panel component is obtained by a system of coercion.

www.bbc.co.uk

Temu -

Temu: Risk popular website sells forced labour goods

The claims arise from an investigation into a US law barring imports made with Uyghur labour.

www.bbc.co.uk

That's not slave labour. The Uighurs are Islamic terrorists being put to work as prison labourers.

You sure are a fkng caveman with that bullshit thinking.

 

[Captain Caveman]

That's not slave labour. The Uighurs are Islamic terrorists being put to work as prison labourers.

You sure are a fkng caveman with that bullshit thinking.

The Global Slavery Index disagrees with your opinion -

Modern slavery in China | Walk Free

The 2023 Global Slavery Index country study for China.

www.walkfree.org

 

[Donald H]

The Global Slavery Index disagrees with your opinion -

Modern slavery in China | Walk Free

The 2023 Global Slavery Index country study for China.

www.walkfree.org

It's just more U.S. demonization of China because they are the competition.

 

[Ringo]

The Northern Sea Route is the shortest and safest route from Europe to Asia, cutting the distance and travel time almost in half compared to the traditional routes through the Suez and Panama Canals.
The Chinese vessel Flying Fish 1 crossed the Northern Sea Route in record time. The container ship left St. Petersburg on September 3 and arrived in the port of Qingdao on the morning of September 26. This is two weeks faster than through the closed Suez Canal. It is also a record-breaking large ship, carrying nearly 5,000 containers.

It will now take up regular deliveries, as the Northern Sea Route is the easiest route from Europe to Asia. This directly relates to the prospects for the development of the Russian Arctic, because previously the traditional route through the Suez Canal was used, but after the Yemeni Hussites attacked the ships, it became unsafe.

 

[Ringo]

The head of Dutch airline KLM, Marian Rintel, called the access of Chinese carriers to Russian skies an “unfair advantage” and demanded that the EU take financial measures against them.