European auto industry crisis

McKinsey warns Europe's auto sector faces existential threat: 7% of GDP, 13.8M jobs, 13pp market share loss since 2017, profitability halved. €370B value at risk from EV shift – only 50-60% of BEV value stays in Europe vs 85-90% for ICE. Competitive window closing fast without massive investment in batteries and software. McKinsey's $519B software/electronics market projection underscores the value at risk if Europe fails to capture software-driven profits.