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Study: German car industry faces difficult months after interim high

December 05, 2020


Abstract : ​Germany's automotive industry received a positive assessment of its current situation for the first time since the onset of the coronavirus pandemic, but the recovery is expected to be short-lived, according to the ifo research institute.

Germany's automotive industry received a positive assessment of its current situation for the first time since the onset of the coronavirus pandemic, but the recovery is expected to be short-lived, according to the ifo research institute.

The indicator for the key sector's current situation improved by 9.2 points to climb back into positive territory at 7.2 points, the ifo said, citing the results of its latest business survey published on Wednesday.

"Business is satisfactory for now, but what companies see in their future isn't cheering them up at the moment," ifo head of surveys Klaus Wohlrab said.

Expectations in the car industry for the coming months clouded over in November, when the ifo's indicator declined for the fourth month in a row, plunging from plus 16.3 points in October to minus 4.0, the Munich-based researchers said.

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Keyword: German car industry

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