by Dominique Dewitte
published on Sunday 06 August 2023 at 07:55 •
4 min reading
The automotive industry is Germany’s most crucial and symbolic industrial sector. But despite a slight increase in new vehicle registrations, the warning signs have been piling up in recent weeks.
Why is this important?
The car industry in Germany directly employs fewer than 900,000 people, but indirectly supports an estimated 2.5 million jobs. It also represents 35 percent of gross fixed capital formation in the manufacturing sector and more than 42 percent of research and development in the manufacturing sector.
In the news. Volkswagen remains the world’s largest automaker by revenue. The company reports an 18 percent increase in sales in the first half of 2023.
Yet Thomas Schäfer, the new CEO of the German automaker, has warned several times in recent weeks about the significant challenges ahead for the company. He mentioned, among other things, the need to electrify their fleet and develop software. The Liberal Weekly The Economist even wonders of Vo
This premium article is exclusive to subscribers
Now read 3 articles for free per month!
Do you think ahead, about tomorrow’s future? Business AM is your guideline through change. Don’t lag behind the facts and be part of Flanders’ fastest growing business website.
Already a subscriber? Log in and get access to all premium articles.
2023-08-06 08:16:09
#Volkswagen #await #Nokias #fate
