The global automotive sector is grappling with several challenges in the current landscape. The industry will continue to be weighed down by geopolitical tensions, disrupted global supply chains, high interest rates. A slower-than-predicted adoption of electromobility, that we are currently witnessing, is attributed to the new emissions legislation and the fact that some of the biggest European markets, like France and Germany, have lifted the subsidies on purchases of new EVs. All these factors, in combination with weak global economic growth, elevated living costs and high interest rates will constrain sales.