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‘It’s stupid’: why western carmakers’ retreat from electric risks dooming them to irrelevance

Iran war should be wake-up call about costs of not going full throttle towards EVs as Chinese have done, experts sayBy the 1980s, Detroit’s once titanic carmakers were being upended by rivals from Japan. Ford, General Motors and Chrysler had grown rich selling gas guzzlers, but when oil prices rose and suddenly cheap, fuel-efficient Japanese models looked attractive, they were unprepared. The collapse in sales led to hundreds of thousands of job losses in the automotive heartland of the US.Now western car manufacturers are making what one former boss calls a similar “profound strategic mistake” as they pull back from electric vehicles (EVs) and refocus on the combustion engine just as oil prices are soaring once again. Experts say the industry’s future – and that of tens of millions of jobs – could be on the line. This time, however, the threat is from China. Continue reading...

Mar 21, 2026 &03002121202631; 12:00 UTC www.theguardian.com Trending 3/5

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Negative for markets

Sentiment score: -45/100

High impact Short-term (days)

WHAT THIS MEANS

Rule-based L2: BEARISH signal from The Guardian Business

AI CONFIDENCE

60% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Oil (WTI Crude)

CL=FCommodity

Expected to decline

‘It’s stupid’: why western carmakers’ retreat from electric risks dooming them to irrelevanc

PRICE HISTORY

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⚡ SUGGESTED ACTION

Automated signal: BEARISH on primary asset

Analysis generated on Mar 21, 2026 at 15:37 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by The Guardian Business. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

‘It’s stupid’: why western carmakers’ retreat from electric risks dooming them to irrelevance

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