In August, Germany's automotive industry sentiment dropped to -24.7, marking the 4th consecutive decline due to insufficient foreign orders.
In August, the ifo Institute reported a significant decline in Germany's automotive industry sentiment, with the business indicator dropping to -24.7 points and expectations falling to -40.5. This marks the fourth consecutive decline, driven by a lack of new orders, particularly from abroad, impacting personnel planning. The negative outlook coincides with upcoming labor talks at Volkswagen, which is pursuing cost-cutting measures amid challenging market conditions.
September 04, 2024
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