The business climate in the German automotive industry improved significantly in January. Companies are optimistic about the coming months.
The Ifo business climate for the German auto industry improved noticeably in January. The index rose to minus 6.3 points – after minus 15.8 points in December. “The companies in the German automotive industry assess their current business situation more positively and, in particular, are much more optimistic about the next few months than at the end of 2023,” said specialist Anita Wölfl.
Global sales increased last year, and experts in important sales markets are also expecting robust growth this year. “However, despite this good development and prospects, the signs are not yet clear,” said Wölfl. When assessing the business situation, the positive assessments outweighed the negative ones when it came to business expectations. “Some companies continue to assess the order situation as unsatisfactory, capacity utilization has declined and there is an increasing shortage of skilled workers.”
Source: Stern
