Overview

• The EY study aggregates results from the 19 largest automakers and finds overall revenue stagnation despite the profit collapse.
• EY cites softer-than-expected electric‑vehicle sales and fierce discounting in key markets, with China pressured further as buyers shift toward domestic brands.
• High transformation and restructuring expenses, product recalls, and supply‑chain disruptions are adding to the financial strain.
• EY’s Constantin Gall expects the downturn to persist, pointing to a weak economy plus unsettled geopolitics and tariff policy.
• Gall urges carmakers to make hard choices by shedding legacy burdens, trimming oversized model portfolios, and focusing on clearly defined customer segments with competitive offerings, warning some may face mid‑term existential risks.