According to the Ifo Institute, the German car industry is looking to the future with concern. Extremely pessimistic expectations have caused the business climate in the industry surveyed by the Munich-based institute to plummet by 6.2 points to minus 24.7 points in August. Following a temporary slight recovery, this was the fourth decline in a row. “The mood in the automotive industry is in a nosedive,” says Ifo expert Anita Wolfl.
Expectations for the next six months have developed particularly negatively. Here, the indicator is particularly low at minus 40.5 points. In contrast, the current business situation was described as only slightly less favorable than a month ago, with the indicator standing at minus 7.2 points.
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