Car Market Collapse 2024. After germany abruptly ended its €6,700 subsidy for 2024, ev sales dropped immediately — even after carmakers said they would cover some of those. The automotive industry will face another subdued year in 2024, weighed down by slow consumer spending, high interest rates and disruption to supply chains due to.
A report from ubs estimates that global car production will exceed sales by 6% this year, leaving an excess of 5 million vehicles that will require price cuts to get. Used car prices remain far higher than historical norms, but prices have gradually come down over the past year.