New car prices in Poland are declining alongside a drop in sales, prompting manufacturers to offer significant discounts; meanwhile, a shortage of key rare minerals in the USA is affecting production.
In the latest episode of the podcast 'Your Business', the discussion highlights the recent decline in new car prices in Poland, with discounts reaching up to 170,000 PLN. According to Adam WoΕΊniak's report in 'Rzeczpospolita', new car sales across Europe fell by 4% in January, with an even steeper 9% drop in Poland. Responding to these market pressures, car manufacturers are implementing various cost-cutting strategies and promotions, including Stellantis contemplating brand limitations and Volkswagen aiming for a 20% cost reduction by 2028. This landscape has particularly favored electric vehicles, as sales pressures may cause more significant price reductions for consumers compared to the previous year.
Additionally, the podcast explores issues surrounding rare mineral shortages in the USA, specifically the lack of itrium and scandium, which are crucial for the aviation and defense industries. This scarcity has compelled some US companies to pause production due to skyrocketing prices β itrium has reportedly increased in price by up to 60 times year-over-year. The sector is hopeful for diplomatic dialogue between President Donald Trump and Chinese leader Xi Jinping, as China remains the primary supplier of these essential resources. The growing trend among countries to tap into their own rare metal deposits is also being noted as a strategic move to mitigate dependence on imports.
