2024-10-07 09:00:11
Automotive
Business

Challenges in the German Automotive Industry

The German automotive industry is experiencing a significant downturn, with sales declining by 4.7% in the first half of the year. This comes after a record-setting year in 2022, highlighting the volatile nature of the sector. Despite this decline, the industry maintains its status as the largest industrial sector, holding a 25.2% share. However, the export landscape is shifting, with 70% of production being exported, the highest in 15 years. Yet, there is a notable decrease in the export of electric vehicles, which make up 22.7% of these exports.

Major players like Volkswagen, Mercedes-Benz, and BMW have been forced to lower their forecasts amid this challenging environment. The industry faces pressure from several fronts, including the transition to electric vehicles, competition from China, and an overall economic slowdown. Employment in the sector is also showing a slight decline, exacerbating the sense of crisis.

The Verband der Automobilindustrie (VDA) is calling for support measures, as the European Union considers imposing tariffs on Chinese imports. Proposed solutions include purchase incentives for electric vehicles, loosening CO2 limits, and increased investment in charging infrastructure.

Moreover, German auto suppliers are losing market share to China, partly due to delayed adaptation to electromobility and a lack of innovation. To regain their footing, these companies must embrace new partnerships and adapt to evolving consumer needs.

Overall, the German automotive sector is at a crossroads, needing to innovate and adapt quickly to survive in a rapidly changing global market. The industry's response to these challenges will be crucial in determining its future trajectory.

n-tv.de
7. Oktober 2024 um 08:52

4.7% sales decline: German automotive industry loses ground in the first half of the year - n-tv.de

Economy
Finance
The German automotive market suffered a 4.7% decline in sales in the 1st half of the year after a record year in 2022; the industry remains the largest industrial sector with a 25.2% share; the export share is 70% - the highest value in 15 years - with 1.7 million passenger car exports, of which 22.7% are pure electric drives, but a decline in electric car exports; employment is slightly declining; Volkswagen, Mercedes-Benz and BMW are lowering their forecasts; declines in all manufacturing ar..
focus
7. Oktober 2024 um 04:28

Key industry in crisis - purchase premiums, punitive tariffs, more CO2? What can save the German automotive industry

Economy
Technology
Environment
Politics
The German automotive industry is facing challenges such as the transition to alternative drives, strong competition from China, and a general economic downturn. Proposals for support include purchase premiums for electric cars, punitive tariffs on Chinese imports, and relaxation of CO2 emission limits.
DER SPIEGEL
7. Oktober 2024 um 08:36

Economic Trend: Industry Sees Steep Decline in Orders - DER SPIEGEL

Economy
Finance
Politics
The German industry is experiencing a steep decline in orders, particularly in the key sectors of automotive, mechanical engineering, and chemicals. The economy is stagnating, and forecasts are declining. Despite the crisis, the WEF president is optimistic about Germany, as the country has a strong industrial base and experience that it can transfer to new business areas.
CW

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