The business climate in the German automotive industry improved slightly again in September, but remains deeply negative. The index rose by 1.3 points last month to a value of minus 23 points, as the Munich Ifo Institute announced on Wednesday. Accordingly, companies are less pessimistic about their business expectations, but they assess their current situation more negatively.
“The auto industry was able to stop the nosedive of the previous month,” explained Ifo industry expert Anita Wölfl. “However, it would be too early to give the all-clear.” The automotive industry is currently in crisis, with VW at the forefront particularly affected. Falling sales, especially for electric cars, and at the same time high investment costs for electric car development are putting a strain on the industry.
Expectations for the coming months have now risen to minus 32.4 points, after 39.4 points in August. However, the indicator for the current situation fell significantly from minus 7.5 points to minus 13 points, as the Ifo stated.