Part 3/11:
2024 has proven to be a challenging year for Europe’s middle class, which forms the backbone of the continent's car market. High inflation, rising energy prices, and stagnant wages have combined to squeeze disposable incomes. Although Ford positioned itself to provide long-term savings through EVs, the high upfront costs deterred many average buyers. By focusing on premium EVs like the Mustang Mach-E, Ford inadvertently distanced itself from its target audience. Meanwhile, competitors such as Hyundai and Renault capitalized on this disconnect by offering more affordable EV options that appealed to budget-conscious consumers.