As the Handelsblatt business daily reports, Germany’s leading car makers—VW, Audi, BMW, and Mercedes together— produced around half a million fewer cars between January and May, when compared with the same period in 2019. This represents a decline of around 20 percent.
After the three-year pandemic, with its industry shutdowns and supply-chain interruptions, industry keeps waiting for “the recovery” which doesn’t come. Incoming new auto orders are 30 to 50 (!) percent below the previous year’s. Orders for e-cars are far below expectations—well, who would buy an e-car if battery rechargers are lacking everywhere?
CEOs are sounding the alarm: Thomas Schäfer, head of the VW brand, recently said in an internal video chat that “the future of the VW brand is at stake.” And with the leading automakers being a stronghold of German manufacturing, all of industry is affected by the decline. (But don’t blame it on the pandemic or the Chinese; blame it on the EU Commission and the Greens—ed.)
