Business in the German Automotive Industry Somewhat Better
The business situation for German automotive manufacturers and their suppliers has improved slightly, finds the latest ifo Institute survey. In April, the indicator for manufacturers rose to 23.7 points, up from 19.3 points* in March. For suppliers, it rose to 35.2 points, up from 34.6 points*. “Automotive suppliers are still much happier with their current situation than manufacturers,” says Oliver Falck, Director of the ifo Center for Industrial Organization and New Technologies.
At the same time, business expectations among automakers, which were in any case far from rosy, have hardly improved. They rose only slightly to 2.2 points, up from 1.2 points* in March. Among suppliers, the pessimistic outlook slumped further from minus 5.8 points to minus 12.2 points. “The Auto Shanghai trade fair in April sent a clear signal to the German automotive industry that competition in the new world of electromobility is getting tougher – not only in the Chinese market, which is so important for German automakers, but also elsewhere,” Falck says.
*Seasonally adjusted
