1237 GMT - EU plans to become friendlier toward the auto industry, coupled with higher defense spending, could see shares in manufacturers move higher, Citi analysts say. Not only has the EU allowed a change in the carbon dioxide penalty regime, a new action plan provides a comprehensive industry-friendly strategy, although no new stimulus has been announced yet, they add. From being the most over-regulated auto region in the world, the EU is clearly looking to positively address key industry concerns, they say. Added to this is the potential for 800 billion euros of European defense spending, 500 billion euros in German defense/infrastructure spending, and possible U.S. tariff deals. "We think the EU autos rally may have legs. VW remains the best way to play this." (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 07:37 ET (12:37 GMT)
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