Sentiment in the German automotive industry worsened markedly in September, falling to its lowest level this year. The business sentiment index compiled by the Munich-based Ifo institute reached minus 35 points. In August, it stood at minus 22 points. Deutschlandfunk ↗
Carmakers' expectations regarding exports, their assessment of the current situation, and their outlook for further developments all deteriorated. Companies said their current situation was worse than in August and also less favorable than in June, which until then had been the weakest month of this year. Trend ↗
According to the survey, the assessment of order levels and expected profitability also deteriorated further. Export expectations, which previously provided some reason for optimism, have now declined significantly. At the same time, automakers are expressing greater concerns about the industry's future development. Tagesspiegel ↗
The survey results signal a deepening of the problems facing the German automotive industry. The declining confidence concerns both the current situation and companies' expectations, with further developments depending primarily on exports, orders, and the economic situation of carmakers. Deutschlandfunk ↗
Mood in the German automotive industry falls to this year's low
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