The Limited Times

Now you can see non-English news...

Ifo Institute: automaker more pessimistic again

2020-12-02T21:36:26.015Z

The new commercial registrations are collapsing, many manufacturers want to reduce their production: According to the Ifo survey, German car manufacturers are more concerned about the future than they were recently.



Icon: enlarge

Car production at Daimler in Sindelfingen: intermediate high over

Photo: Marijan Murat / dpa

The mood in the German auto industry has deteriorated over the coming months.

Business expectations fell, as an economic survey by the Munich Ifo Institute shows - from plus 16.3 points in October to minus 4.0 points.

However, the producers and suppliers rated their current business situation better.

This indicator rose to plus 7.2 points, after minus 2.0 points in October.

"At the moment things are still going, but looking to the future does not make companies happy at the moment," says the head of the Ifo surveys, Klaus Wohlrabe.

“In October we saw a drop in new commercial registrations.

This is likely to continue due to the great uncertainty among companies, ”adds Oliver Falck, Head of the Ifo Center for Industrial Organization and New Technologies.

Orders slow

The companies stated that they wanted to significantly reduce their production.

The indicator fell from plus 38.6 points to minus 0.5 points.

Export expectations fell significantly from plus 19.0 points in October to minus 5.0 points.

The strong increase in business in China had recently helped numerous manufacturers to achieve surprisingly good figures, while BMW, VW and Daimler recently reported profits again.

According to Ifo, the overall order backlog has recently not increased as strongly as before.

The corresponding indicator fell significantly to 6.2 points, after 29.3 in October.

The stock in the finished goods warehouse is still lower than usual for the season.

The indicator rose only slightly to minus 4.9 points.

In view of this development, the majority of companies continue to plan to reduce their workforce.

The indicator rose only slightly to minus 34.6 points.

In order to support the ailing industry and to provide it with a bridge in the transition to regenerative drives, the federal government is currently working on further billions in aid for the auto industry.

Icon: The mirror

apr

Source: spiegel

All business articles on 2020-12-02

You may like

Trends 24h

Business 2021-01-17T11:49:49.876Z

Latest

© Communities 2019 - Privacy