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Why the car market is slowing down, know the reason here
Why the car market is slowing down, know the reason here

Another news is the UK car industry is in the midst of constant shocks that Ford plans to close its Bridgend plant next year, which will lead to 1700 jobs. In February, Honda said. That it would close its Swindon plant by 2021, which would have left about 3500 jobs, while Jaguar Land Rover and Nissan are also cutting production and jobs. Carmakers around the world are facing many challenges, on the other hand, people are buying fewer cars than ever before. So what's the reason why the producers are pulling their feet back? Let us know the full details

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For your information, the global car market was generally manda in 2018 after a high growth rate for many years. This was mainly due to the decline in demand in China, the world's largest market. Dave Leget, editor of the car industry website "Just-auto", says it was a setback for carmakers doing good business in China. "The ongoing trade tensions between Washington and Beijing have been in China," he says Have generally influenced trust. The economy was slowing down anyway, but it made more impact on the car market. " Jaguar Land Rover pointed to a lack of demand in China because of its poor performance, while Ford withdrew plans to sell a China-made Ford Focus in the United States due to trade tariffs. Two big car markets demand in Western Europe and the US due to low consumer confidence Decreased and also impacted China's slowdown. "The competition soared, which is making it all the more challenging," says Leget.

 

The big headache continues to be the emissions crisis for the car industry in Europe. Air quality concerns and tax changes have led to a major drop in sales of diesel cars, reducing the new car registrations in the UK by 7 per cent in 2018. and more challenging Yad was to bring in new CO2 emission norms designed to combat global warming, but it made cars costlier. From the year 2021, manufacturers will face large-scale inflation in the EU if they do not adhere to fixed emission standards and are The nose will continue to be stiff. According to Arant Eslinghast, an automotive industry analyst at Evercor ISI, "car manufacturers will have to add more equipment of 1,000 euros (approximately Rs 8,000) to cars and they'll be able to abide by the new rules." That means people will buy cars less, the consumer's trust that will be low. "

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