Automotive Industry Updates

In his speech at the Republican National Convention, former President Trump unveiled a proposal to rejuvenate the U.S automotive sector He expressed his intent to terminate the electrification mandate set by the Biden administration and to boost car production domestically. Meanwhile, in Europe, the automotive market has shown signs of recovery with a 4.3% increase in new car sales in June, the highest since July 2019 This surge, as reported by the European Automobile Manufacturers Association (ACEA), was driven by substantial sales in Italy, Germany, and Spain However, European regions observed a slight drop in the registrations of battery electric vehicles during the same month..