Challenging times
After the corona lockdowns came the chip shortage and now also the energy crisis. The German car industry, among others, will not be disturbed. Now, however, there seems to be a little more optimism than last month.
While car production in Germany (and elsewhere, of course) is still being hit by the consequences of the global chip shortage, the energy crisis is coming on top of that. These are challenging times for car manufacturers, especially now that there is also a lot of development to be done in the electrical field and to get combustion engines ready for Euro 7. Just go for it. However, the circumstances of the major German car manufacturers and their suppliers have improved somewhat over the past month. This is reported by the German economic research institute Ifo.
The Ifo index, which measures corporate confidence in the important auto sector, was minus 2.2 in November, up from a minus 4.3 in the previous month. The car companies have also become a lot less negative about the expectations for the coming months. The gauge that measures future confidence improved from minus 35.3 in October to minus 13.3 in November. According to Ifo researcher Oliver Falck, this is because the risk of a gas shortage in the winter and a deep recession in the eurozone’s largest economy has diminished. This gives the auto sector more confidence. According to Falck, the car manufacturers are therefore planning to increase production.
– Thanks for information from Autoweek.nl