Unprecedented Layoffs in Europe from Volkswagen and Ford -- Is 'BIG' auto cracking?

While Hyundai pivots to Hybrids in America, Ford and VW are suffering big time in Europe. The auto market is crashing due to weak consumer demand, big government regulations, and competition from China.

00:00 Hyundai EV recall
03:41 Hyundai Doubling Down on Hybrids
07:26 Northvolt Bankrupt
08:25 VW can't pay their workers
12:53 Ford is going up in flames
21:35 Nissan Bleeding
22:09 Stellantis layoffs
22:32 Hyundai is Safe?

[feram]

Is Toyota or Honda firing employees? No, because they know how to build cars and how to plan their growth. They are not following stupid trends...

[gregkramer]

Many of the Ioniq 5s have already been fixed for the ICCU. Mine was down before I bought it in May. This issue has been known for a long time! Hybrids will take a large market share from pure ICE for sure. Over due!

[rightlanehog]

Kirk, Without mentioning any names, mediocre brands are suffering the effects of offering mediocre products in a market with superior competition. 🤨

[rodhonco]

Problem with EV:
1. Massive Depreciation
2. No secondary market.
3. Range Limitations.

[richardsimms]

First should the auto EV industry get together and build a plethora of CHARGING SITES which will eliminate worry about running out of battery power ? I think this is important !!!

[eldontyrellcorp]

It's only the beginning of layoffs. Eventually, virtually all European brands will disappear. Thanks Europe for the EV mandates insanity!

[mrgurulittle]

The Ford one pisses me off because I protested everything Jim Farley did. I protested the Mach e, the ugly Capri EV, the cancellation of the Fiesta and Mondeo, the overwhelming investment in EVs, Farley’s flattering words about the Xiaomi EV, and Farley’s huge paycheck. It’s all that CEOs fault because Ford was the biggest brand in Europe at one time.

[_Marc_D]

I would really love to talk to the higher-ups at VW North America. It’s mind blowing that they do not just sell the regular Golf here. They have a whole bunch of hybrids and plug-in hybrids that are not sold here. Crazy that this is the last year for the Golf GTI and Golf R in the manual transmission. The new Tiguan is nice, but where is the hybrid or plug-in hybrid? Where is the Touareg?

[zeitgeistx]

Because Ford and VW workers weee being subsidized by revenue generated in China. Ford, Toyota, Nissan, VW, Mercedes, BMW depended on China for up to 1/3 of their sales.

[Lights.Liights]

EVs need to migrate towards simplicity like that of golf carts. Fancy Nav and entertainment is off the table. Just point and go. Price it to 0.5x annual median paycheck.

[magic]

More incentives will not solve the problem. Giant incentives will not address the fact that Chinese EVs are cheaper than any vehicle produced by legacy manufacturers, (generally) and EV infrastructure in the US is not mature enough to eliminate the issue as a purchase negatively. In the US Ford and GM made strategic mistakes in their resistance to EVs generally, affordable EVs specifically. The non standardization of charging standards and the build out of affordable and everywhere charging infrastructure prevents mass EV sales in the US of not only American EVs but Chines3 EVs as well. Incentives or the lack there of is not the problem.

[MRDDev]

Companies: We need to layoff due to money loss on EVs
Also Companies: lets turn more of our cars into EVs maybe that will help.
If anyone after seeing this video tells me there are no EV mandates then your are either trolling or just big brain dead.

[jp]

good updates Kirk, I'm glad I found your channel.

[yaushaas]

If companies got tax credits for putting 110/120 chargers in their parking lot. I'm pretty sure it would boost EV sales. Not sure if the company would need a one time or yearly tax credit to be beneficial. I do not have the knowledge for it to become a reality

[GlennLaycock]

Elantra Hybrid - you know - at least a year ago, before the Elantra refresh came out - some person in the know was asked about the next generation Elantra. The answer was all the hard points were worked out and looking strong - at current it was looking to be a hybrid only offering - but that they had room to move to petroleum or EV options on it as well depending on how the markets are assessed. The generation after that he said was indeed being worked on but what it would be was in flux including it not being an Elantra as such - and even an EV exclusive.

[Drtbykr]

I’ve heard a lot of positives about China’s EV. I’d love to have a hybrid that charges itself, good mileage and low end torque.

[ryan_bitt]

What about the other Manufacturers in Mexico Kirk? Namely TOYOTA with the production of the Tacoma?

[ElegalvicnLa]

They better Include the 2019 Ioniq Hybrid model too. I’ve BEEN having this issue and they won’t do anything. If I was a person that didn’t pay attention to my car I would’ve Definitely been in an accident going up the freeway in the mountains. Hopefully this gets more attention from the NHTSA.

[Jyy-sh]

If legacy auto makers double down on making good quality cars for cheap instead of jumping between trends there will be no need for these layoffs. No one will pay over 30k euros for a golf with rattly interior

[ssmit]

You are spot on. Thank you for the thoughtful video. F and GM leave China. F follows GM in exit from Europe, except for transit. Is Ford now going to become just Ford Pro?