The EU & UK were going to effectively ban ICEs sales from 2035 as a start to moving everyone into EVs. This seems to have had a very bad impact on EU manufacturers who are struggling to compete with manufactures in China and the like:
EU’s 2035 petrol and diesel car ban will be watered down, says senior MEP
German car problems:
Behind the downturn lies a perfect storm of weak demand, rising tariffs, and fierce new competition from China’s growing EV industry. Now, the fallout is spreading far beyond the showroom floor.
https://www.autoblog.com/features/germanys-auto-industry-is-facing-decline-heres-why