trending Market Intelligence /marketintelligence/en/news-insights/trending/Tvp7LxLiDKAzK8xNBjNCTg2 content esgSubNav
In This List

Carmakers urge European Union to think of journey, not destination

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Carmakers urge European Union to think of journey, not destination

As previously documented here, a growing number of carmakers have concluded that U.S. federal laws on emissions standards are too lax and are instead signing up to follow California's more stringent demands, much to the chagrin of President Donald Trump.

SNL Image

Source: Associated Press

In Europe, the opposite problem has arisen. The automotive industry is fearful that the European Union has passed down overly ambitious rules without considering the feasibility of such demands.

Manufacturers have responded by lining up a deluge of new electric car models set to reach the market in the next two to three years. But these could be greeted with consumer indifference by unless efforts are stepped up to reduce their price tags and roll out public charging infrastructure. That was the view from automakers and analysts at a European Automobile Manufacturers' Association, or ACEA, gathering in Brussels on Sept. 4.

"A much more holistic approach is needed, and that is why Europe needs to draw up a much more comprehensive plan for mobility," Erik Jonnaert, outgoing ACEA secretary general, said at the event. A joint call to action for the accelerated deployment of smart charging infrastructure between the ACEA, energy industry lobbyist Eurelectric and environmental lobbyist Transport & Environment also was announced.

"In order to tango, you need to be more than two these days," said Jonnaert.

Attendees said rolling out a charging network is a top priority but will need public support because financial incentives were lacking for the private sector. Policymakers also need to start thinking outside their "silos" to ensure that the rules they devise take into account everything from mining sector output for battery metals to replacement of taxes on fossil fuels to changing consumer tastes.

"Electric vehicles are not a silver bullet," said Julia Poliscanova, director of clean vehicles and e-mobility at Transport & Environment. "There's much more we need to do beyond just replacing every car with an electric vehicle."

Chart of the week: Subjects of latest tariff hikes on US imports from China

SNL Image

Automotive

Peugeot CEO: No-deal Brexit would 'destroy the lives of the next generation'

Carlos Tavares said a no-deal departure will deliver a heavy blow to the U.K. and Europe alike and urged citizens not to accept it.

Nissan CEO Hiroto Saikawa to resign; COO named interim boss

Saikawa, who has led the Japanese carmaker through a period of turmoil following the arrest of its former Chairman Carlos Ghosn, will step down Sept. 16.

Federal investigation could complicate UAW negotiations with automakers

Distrust could erode any leverage union leadership and the automakers had, according to experts.

Waymo asks NHTSA to 'rapidly' remove barriers for autonomous cars

Other carmakers that are developing their own automated driving systems — including General Motors, Ford and Honda — have also called on the National Highway Traffic Safety Administration to work with companies on developing appropriate test parameters for self-driving systems.

Retail

Latest tariff hikes to test retailers' resolve on price increases

The most recent tariff increases will particularly hurt smaller U.S. retailers that are heavily reliant on China for their products and cannot immediately diversify their supply chain, according to experts.

Walmart sees price hikes as 'last resort' to offset China tariffs, exec says

The retailer is focusing on offsetting the impact from tariffs on Chinese imports by managing its merchandise mix.

Luxury stocks rally on withdrawal of Hong Kong extradition bill

Shares of companies including Kering, Richemont and LMVH were up more than 3% in lunchtime European trading in response to the withdrawal of the extradition bill in Hong Kong.

Food, Beverage & Tobacco

Kraft Heinz facing investor pressure to beef up alternative protein plans

A vote at the food giant's annual meeting Sept. 12 could put pressure on the company to put greater focus on alternatives to products made from animal meat.

Dairy industry optimistic for Japan trade deal, warns of no-deal consequences

Former U.S. Secretary of Agriculture and Iowa Gov. Tom Vilsack told S&P Global Market Intelligence that a lack of a trade deal with Japan will lead to lost sales to European and New Zealand competitors.

Consumer Edge is a weekly collection of critical developments across the automotive; retail; and food, beverage, and tobacco industries. Drawing on exclusive analysis and value-added content from the Consumer News team at S&P Global Market Intelligence, it is published every Thursday.