Wednesday, December 8

German industry concerned about problems in the automotive industry

The Association of German Chambers of Industry and Commerce (Dihk, for its initials in German) considers that the worsening situation in the automobile industry is a clear drag on Germany.

“The automotive industry, with its many service providers and supply companies, represents more than one million employees and more than 5% of our total economic output, and therefore of prosperity and employment in Germany,” he stated. to DPA the CEO of Dihk, Martin Wansleben.

According to a special analysis of the autumn business survey of the Dihk, the automotive industry now evaluates its situation considerably worse than at the beginning of the European summer of this year: 36% of companies consider their situation as good, 26% as bad.

The difference between good and bad valuations has thus fallen from 34 to 10 percentage points since the beginning of summer.

On the other hand, the sector is experiencing, according to Wansleben, a profound structural change. In this context, rising raw material prices and low availability of semiconductors represent an additional economic burden, he explained.

The increase in the prices of raw materials and energy is by far the greatest economic risk for the automobile industry, specified the Dihk executive. He added that, in addition, the shortage of qualified workers, the weakening of the global economy and the problems of the supply chain weighed down the business of the heavily export-oriented companies.

“The investment plans of the companies are oriented to the transformation process towards greater electrification, digitization, as well as automation and associated restructuring,” he said. Wansleben.

“But here too there is a negative point: the financing problems of the automotive supplier industry are more pronounced than the average for the sector as a whole.”