The industry, which is important for Germany, is suffering from a lack of orders. Above all, the future prospects are bleak.
According to the Ifo Institute, the German car industry is looking to the future with concern. Extremely pessimistic expectations caused the Munich-based institute’s business climate index for the industry to drop by 6.2 points to minus 24.7 points in August. After a temporary slight recovery, this was the fourth decline in a row. “The mood in the car industry is in free fall,” says Ifo expert Anita Wölfl.
Expectations for the next six months have developed particularly negatively. The indicator is now particularly low at minus 40.5 points. The current business situation, however, was described as only slightly less favorable than a month ago, where the indicator is at minus 7.2 points.
“Companies in the German automotive industry are suffering from a lack of new orders – especially from abroad,” said Wölfl. “This is now also reflected in personnel planning.”
Source: Stern
