Factbox-Europe's embattled auto sector plans plant closures and layoffs

European automotive companies are facing plant closures and layoffs due to weak demand, high costs, and competition, with significant job cuts reported across major manufacturers.

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Factbox-Europe's embattled auto sector plans plant closures and layoffs

European automotive companies face challenges leading to plant closures and layoffs, driven by weak demand, rising costs, and increased competition during the transition to electric vehicles.

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Valeo shares plunge 10% after 2024 sales forecast cut amid weak EV demand

Valeo shares dropped over 10% after lowering its 2024 sales forecast to €21.3 billion due to weak demand and market conditions, prompting revised guidance for 2025.

European shares muted on auto pressure, set for weekly loss

Europe's stock index fluctuates as weak earnings from auto and appliance firms impact sentiment, while others like NatWest and Signify perform positively amid mixed economic signals.