German Manager Magazin: McKinsey: Corona slows down the German auto industry for another three years000002

At the beginning of this week, Opel boss Michael Lohscheller (51) reported a rare success at this time: The car manufacturer from Rüsselsheim, part of the French PSA group, actually made a profit in the first half of the year: 110 million euros in operating profit means a margin of 2 Percent. But, and that unites Lohscheller with the other domestic car bosses, the Opel boss sees the Corona crisis for the car industry and his company far from over. A sustained recovery of the markets that have since collapsed is uncertain, he explained.

It is the crucial question that moves the entire industry: When will the auto industry return to its pre-crisis level? The short answer: far from it.

From zero back to 100 percent in three years – that is the bleak forecast by management consultancy McKinsey for the German automotive industry. Senior partner Jan Wüllenweber has the exclusive for manager magazin Consequences of the pandemic for 27 industries analyzed. The study depicts almost the entire domestic added value and draws up to-do lists for nine core industries on how the pandemic losses can be overcome as quickly as possible. Result: It will take a long time for many to reach the pre-Covid 19 business level again – the automobile industry by about the third quarter of 2023.

Go to source