The industry started to grow weaker five or even ten years ago, with car makers responding to the progress brought by technological companies slowly and clumsily, the business newspaper says in the commentary headlined The End of Romance and Turning a Blind Eye.

Today, they are justifiably and undoubtedly disrespected, even dirty by their own fault, and they cannot boast with progress, flexibility and ability, let alone adapt to trends, needs and global environmental regulations.

The crisis was inevitable, and it actually started years ago, but the Chinese hunger for cars mitigated it and car makers were thus resting on laurels, Finance adds.

"Now it is time for the moment of truth, for hard landing on the realistic ground, which has been additionally deepened by the coronavirus crisis. Shrinking will be inevitable and it will not be stopped even by generous state aid."

The aid will be short-lived, as the industry is in for a new challenge in the form of strict environmental regulations, under which exceeding the limits will be punished with heavy fines.

Some rare car makers and their suppliers will meanwhile profit from these regulations as their investments in development were adequately directed, which is why the crisis has a silver lining.

"All those who resisted the accelerated development ... will be forced to change and adapt fast. Before that, they will shrink considerably and perhaps barely survive, if at all," concludes the commentary.