In the first post-corona financial year, the recovery in car production by German manufacturers in Europe is threatening to stall.
(Photo: dpa)
Dusseldorf, Vienna Europe’s auto industry has shrunk significantly compared to the time before the corona pandemic. This is shown by the current production figures available to the Handelsblatt. Volkswagen, Audi, BMW and Mercedes-Benz alone produced a good half a million fewer cars on their home continent from January to May 2023 than in the same period of 2019. According to the information service “Marklines”, this corresponds to a decrease of almost 20 percent.
Manufacturers are faced with a drastically changed market environment. Corona lockdowns and a lack of semiconductors and wiring harnesses slowed down car production between 2020 and 2022. At the time, demand exceeded supply. The manufacturers were able to charge high prices and compensate for the production losses with short-time work benefits. After years of being in a state of emergency, the supply chains are now largely intact again. The industry has therefore expected a strong recovery in manufacturing for 2023. But it threatens to stay away.
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