DeStatis – German Recession: Automotive industry records 4.7% decline in sales in the first half of 2024

Sorry, this was only in German, but we have translated parts:

Nominal sales fall from record level in the 1st half of 2023 to €269.5 billion

Exports of new cars in the 1st half of 2024 at the same level as the same period last year

Number of employees down slightly at the end of the first half of the year (-0.8%)

The automotive industry (excluding the supplier industry) generated sales of around 269.5 billion euros in the first half of 2024 – that is 4.7% less than in the first half of 2023. At that time, the industry posted record nominal sales of 282.6 billion euros – partly due to higher prices. Despite the decline in the first half of 2024, it remains the industry with the highest turnover in Germany, accounting for a quarter (25.2%) of total industry turnover. According to the Federal Statistical Office (Destatis), the decline in sales within the automotive industry was spread across all manufacturing sectors: Sales of car bodies, superstructures and trailers fell by 11.6%, parts and accessories for motor vehicles such as alternators, gearboxes or bumpers by 5.4% and in the manufacture of motor vehicles and motor vehicle engines by 4.3%.

The industry generates a large part of its turnover through exports: at around 190 billion euros, foreign turnover accounted for around 70% of total turnover in the first half of 2024. This was the highest share in the last 15 years.

Inlandsumsätze = Domestic Sales

Auslandsumsätze = Foreign Sales

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