The Globe and Mail reports in its Saturday edition that German consumer stalwart Volkswagen AG is in near freefall. Last The Globe's Eric Reguly writes that German media reports the company plans to shed 100,000 employees, one-sixth of its work force, and close four factories. VW, whose brands include Audi, Porsche, Škoda and Ducati, has lost 21 per cent of its market value in the past year. Over the past five years, it has lost 75 per cent. Tesla is worth 38 times more than VW. Automotive pundits everywhere were quick to place much of the blame on Chinese competitors, but VW's woes, and those of rivals such as Stellantis (Fiat, Peugeot, Dodge) began years ago, well before the Chinese machines popped into European showrooms. European carmakers love to make ugly, bloated, tech-laden rolling monsters that appeal to the wealthy instead of the masses. All that extra weight and power so you can accelerate to the stop light faster than the old, cheapo Fiat Panda next to you comes at a cost. Europe has lost the art of making stylish, practical cars that consumers love but don't bust the bank account. It also got into the EV game too late. Chinese cars, especially EVs, have moved up the value chain and offer unbeatable prices.