Picture: ifo Institute

ifo Institute: Gloomy Outlook for German Automotive Industry

Business expectations plummeted to minus 33.7 points

Prospects for the German automotive industry have deteriorated significantly as a result of the coronavirus crisis. This is the result of the latest survey conducted by the ifo Institute.

Business expectations for the coming months plummeted from minus 19.7 points in February to minus 33.7 points in March.

The industry’s demand index sank to minus 30.6 points, having been at minus 13.8 points in February. Export expectations took a nosedive from minus 17.3 points in February to minus 42.7 points – its lowest level since March 2009.

The index for production expectations also fell in March, from plus 4.2 points to minus 35.9 points. Of the companies surveyed, 41.3 percent expected to introduce short-time work in March, compared with 19.7 percent in December 2019.

Inventories of unsold cars grew once again, with the balance rising to plus 14.1 points in March, up from plus 7.6 points in February. Order books shrank from minus 7.2 points in February to minus 12.4 points in March.

Niklas Van Bocxlaer
Niklas Van Bocxlaer
Exhibition Manager
Lüneburg near Hamburg, Germany
Anja Van Bocxlaer
Anja Van Bocxlaer
Editor in chief and Conference Manager
Lüneburg, near Hamburg, Germany
Jan Phillip Denkers
Jan Phillip Denkers
Deputy Editor-in-Chief
Lüneburg near Hamburg, Germany
Vanessa Tan
Vanessa Tan
Editor & Marketing Manager
Lüneburg near Hamburg, Germany
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