Expert Dudenhöffer warns German auto industry: Demand for new cars slump
Created: 08/02/2022, 16:31
By: Lisa Mayerhofer
Auto industry expert Ferdinand Dudenhöffer warns of a slump in demand.
(Archive image) © Nicolas Blandin/dpa
Car expert Ferdinand Dudenhöffer warns that demand for new cars in Germany will decrease significantly.
He speaks of a "dangerous tipping point in the new car market".
Duisburg/Frankfurt – New and used cars from German car manufacturers are still in great demand – due to a lack of raw materials and the consequences of the pandemic, Audi, BMW, Volkswagen and Co. can hardly keep up with production.
The waiting lists for new cars are long.
But that could soon change, according to auto expert Ferdinand Dudenhöffer.
Dudenhöffer: Demand for new cars in Germany will decrease
According to market experts, the demand for new cars in Germany will decrease significantly.
In a few months, the holey supply chains will no longer be the problem for the manufacturers, but the significantly declining willingness of customers to buy, writes the Duisburg Center Automotive Research (CAR) in its discount study for the month of July.
In addition to the high inflation, the planned reduction in state subsidies for electric cars will also have a dampening effect.
The car manufacturers can still reduce their pent-up order books and sell the scarce new cars without major discounts, it is said.
However, there were increasing signs that production was recovering and that the order backlog had begun to be rapidly reduced.
Dudenhöffer cites production data from manufacturers in Germany, who built 21 percent more cars in May and June than in the same period last year.
In addition, the delivery times for cars that come onto the market via subscription models have been reduced.
The magazine
Der Aktionär
quotes Dudenhöffer specifically: “There is an explosive situation.
In the two months of May and June 2022, 103,900 or 21 percent more cars were built in Germany than in the previous year.
In addition, the delivery times for car subscriptions for vehicles have decreased.
Several indicators point to a clear trend towards reducing the high order backlog.”
Dudenhöffer: "Dangerous tipping effect" - electric cars particularly affected
In addition, there are hardly any incentives to buy in the new car market, so the net prices are at the highest level, the CAR experts report.
In addition, list price increases must be expected in the coming months.
“With the ever-increasing economic weakness and inflation, a dangerous tipping point is looming in the new car market.
In a few months, the problem will be a clearly declining willingness to buy,” warns Dudenhöffer in the
shareholder
.
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This process affects electric cars in particular, for which price increases are expected because lithium, nickel and other raw materials for battery production have already become significantly more expensive.
At the same time, however, the premiums for e-cars were reduced.
According to experts, plug-in hybrids could even become real slow sellers.
(lma/dpa)