Shock in the auto industry: sales figures in the downward trend!

Shock in the auto industry: sales figures in the downward trend!

The German auto industry is under pressure because sales in the first half of 2024 fell 4.7 percent compared to the previous year. According to the Federal Statistical Office, sales fell to EUR 269.5 billion, compared to 282.6 billion euros in the same period 2023. Manufacturers such as Volkswagen are particularly affected, which are already responding with drastic austerity measures and the dismantling of a thousands. Mercedes and BMW also fight with declines of sales, which could make future savings necessary. The largest decline was reported in body and trailer production with 11.6 percent, while car production fell 4.3 percent.

Despite the declines mentioned, the automotive industry remains the leading industry in Germany with a sales share of 25.2 percent, with 70 percent of total sales generated by exports. Overall, the industry recorded 190 billion euros in exports in the past half year, which is the highest proportion in 15 years. The number of exported new cars remained almost constant, while the proportion of electric cars fell by 2.5 percent to 22.7 percent when exporting. In addition, the number of employees in the sector has dropped by 0.8 percent to 773,000, which underlines the challenges of the industry, according to the reporting of the Federal Statistical Office on www.merkur.de .