French auto supplier group warns sector may lose half its jobs

20 Sep 2024 CW Team

The head of the French auto supplier association, Fiev, raised about the potential loss of a significant portion of jobs within the sector. He pointed to a combination of factors contributing to this risk, including a steady decline in car sales volumes, a slowdown in the growth of the electric vehicle (EV) market, and heightened competition from Chinese manufacturers. These challenges are creating an increasingly difficult landscape for French auto suppliers.

Jean-Louis Pech, president of the Federation of Vehicle Equipment Industries, highlighted the gravity of the situation during a press conference. He noted that, based on current trends, the loss of half of the sector's jobs within the next five years was a very real possibility. Pech explained that this scenario would not be an exaggeration, as the rapid pace of change in the industry could lead to job cuts sooner than expected. He warned that the impact could be severe and felt within a short timeframe if the issues facing the sector are not addressed.

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