Opinion poll
The mood in the auto industry is getting worse
The German auto industry is suffering. The mood is bad in almost all areas – but in one place there is a surprising improvement.
The mood in the German auto industry is on the decline. In November, the industry index compiled by the Munich Ifo Institute deteriorated by a further 3.5 points and, at minus 32.1, is currently worse than it has been since the peak of the corona pandemic. Weak demand is primarily to blame, as expert Anita Wölfl explains: “The mountain of orders that companies in the automotive industry have accumulated since the beginning of 2021 in view of the pandemic and supply chain problems has been processed. New orders are coming in, but are not sufficient to cover the capacities to utilize,” she says.
But that’s not all: “The industry is stuck in the current mix of profound transformation, intense competition and a weak economy,” Wölfl makes clear. And that has consequences for the labor market. “Many companies in the automotive industry are holding back on hiring new employees or are discussing job cuts,” explains the expert.
But there is also one area where there is a surprisingly significant improvement. The export expectations indicator rose by 12.1 points. At minus 19.2 it is still clearly in negative territory. According to the Ifo, we cannot currently see a negative Trump effect. “Companies are still waiting to see how trade policy will develop,” says Wölfl. In addition, the dollar rose sharply after the election, which exporters can benefit from.
dpa
Source: Stern
