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Economy News

The Economic Times

Economy / The Economic Times

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US EV slowdown drives $55 billion hit for carmakers

In a turbulent turn of events, major global car manufacturers are grappling with heavy financial losses. Brands like Stellantis, Ford, General Motors, and Volkswagen are reporting billion-dollar writedowns as they reassess their electric vehicle strategies. The factors at play include a sluggish US market, aggressive pricing battles in China, and intricate regulatory demands in Europe.

6 Feb 2026 4:19 pm