What this means for you

Anticipate heightened competition for tech roles within established automotive firms; prioritize opportunities with growing EV-focused companies or those in less directly impacted sectors. German automakers are slashing up to 100,000 jobs at Volkswagen alone while Chinese rivals seize European market share above 10%. Profit margins have collapsed below 2% amid plunging China sales and costly EV transitions. The industry that defined postwar prosperity now faces permanent shrinkage with ripple effects threatening hundreds of thousands of additional positions.