Going into 2024, I have to admit I did not have "doomsday vibes" on my Bingo card. But a "toxic cocktail," as it's being called, of labor costs, sinking sales, high interest rates, the cost of going electric and intense competition from China has absolutely rocked Europe's automakers. Today, Volkswagen, Mercedes-Benz, Aston Martin and Stellantis have all warned investors that they're now looking at lower profits and sales than originally projected for this year.
