In bad news for the South African economy, Car Magazine reports that the EU has made it explicitly clear that BMWs, Volkswagens, Toyotas, Fords, and Mercedes-Benzes that are manufactured South Africa will no longer be accepted as imports. This as aggressive targets for the phasing out of Internal Combustion Engine vehicles and the introduction of alternatives such as Electric Vehicle’s have been set by the EU and the UK, with the 2035 ban in the UK having been brought forward to 2030, and nations such as Norway banning diesel- and petrol-powered vehicles as soon as 2025. The magazine says that the prospect is frightening for both investors, as well as those who work in the manufacturing plants as decreased demand equals lower production, which equates to fewer hands being needed, saying the knock-on will be catastrophic.
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