The German car industry is under increasing pressure

The car industry will cease to be a driver of economic growth in Germany, according to a study by the Institute for German Economics (IW) in Cologne. This was announced on the eve of a meeting between representatives of the automotive industry and the federal government. The corona crisis and the transition of the car industry from internal combustion engines to electric motors is hitting the car industry hard. And thus the overall German economy, for which the car industry has long been a driver of economic growth.

The importance of car manufacturers and their subcontractors can be seen in a few figures: almost ten percent of Germany’s GDP goes to the car industry. More than two million people in Germany live directly and indirectly from this industry. And it is at the forefront of innovation. Nearly 40 percent of all research and development expenditure goes to the automotive industry.

Under pressure both small and large Crisis meetings of car industry representatives with policy representatives, such as today’s (8 September) video conference, are regularly accompanied by requests for incentives to buy new cars. But this time, the belief that the differences between big and small are such that one cannot go with the same incentives for everyone seems to have prevailed. True, car manufacturers and their subcontractors, large concerns, as well as medium and small businesses, are all under pressure. But some are threatened with survival, others are not.

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