PARIS: The Geneva Motor Show kicks off this week with automakers eager to show off new electric models, even as they nervously eye a horizon coloured by trade wars and Brexit uncertainty.
The automakers heading for Europe’s biggest annual car show, which opens on Mar 7, are already suffering from the ongoing trade war between Washington and Beijing, and are wary about increased tariffs the US might slap on European imports. As a result, factories were struggling, with overcapacity estimated at “well above five million units.”
At the same time, people are still drawn to gas-guzzling SUVs, which currently account for one in three vehicles sold. They are scrambling to catch up with Californian electric carmaker Tesla, which won’t be present at the show, but will weigh heavily on everyone’s mind at a time when its Model 3 sedan – already a best-seller in the United States – is revving up in Europe.