Car factories to be closed and sold in U.S. and Europe

11:52 - 17.01.2025


January 17, Fineko/abc.az. Several European and North American car factories may close or sell this year as car brands struggle with overcapacity and price competition, ABC.AZ reports, referring to research & consulting company Gartner.

According to the company, automakers are likely to reduce production capacity on two continents in 2025 as they face emissions targets and tariffs, while China's dominance in the electric vehicle market will increase due to its advantage in software and electrification.