The mood in the automotive industry is getting worse and worse. The industry is still struggling with delivery bottlenecks.
After a brief summer high, the mood in the German auto industry is getting worse and worse. In September, the sub-index of the Munich Ifo Institute for the current situation fell significantly for the second month in a row.
It is now at 13.2 points, as the economic researchers announced. That is 18.8 points less than in August and 39.7 less than in July, when the index reached a multi-year high.
“Current figures show that the automotive industry is the sector most affected by supply bottlenecks with preliminary products,” said Oliver Falck from the Ifo Institute, explaining the development. In addition, the domestic order backlog and demand fell.
The only positive impetus for the Ifo can be seen from abroad: export expectations have increased. However, Falck warns that “the uncertainty of many consumers in China is depressing the mood of German car manufacturers due to the crisis in real estate developer Evergrande”. These meanwhile produced more cars in China than in Germany.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
