Friday, December 9, 2022

Situation in the automotive industry tense despite good figures

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According to the consulting company EY, the situation in the automotive industry is less rosy than the key figures from manufacturers suggest. The sale of new cars in China is coming under pressure because of the corona lockdowns there. This was reported by EY in a study on the business figures of the 16 largest car companies in the world.

Among them are the German automakers Volkswagen, Mercedes-Benz and BMW. China is the largest single market for the three companies. “An end to the rigorous corona policy of the Chinese authorities is not yet in sight, so there is a risk of further sales declines in the coming months,” warned EY industry consultant Peter Fuss.

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