The situation of German car manufacturers and their suppliers cooled down significantly in September, as the Ifo Institute announced on Monday for its monthly survey. The corresponding Ifo barometer fell from 32.0 to 13.2 points. In July it was still 52.9 points. “Current figures show that the automotive industry is the most severely affected by supply bottlenecks with intermediate products,” said Oliver Falck, head of the Ifo Center for Industrial Organization and New Technologies.
Export expectations increased
Positive impulses come only from abroad: According to the announcement, export expectations have improved significantly. As a result, the indicator rose to 34.5 points, after 17.0 in August. This could have a positive effect on production expectations. The value rose from 35.4 to 37.4 points. “But that shouldn’t hide the fact that the uncertainty of many consumers in China due to the crisis in real estate developer Evergrande is putting pressure on the mood of German carmakers, who are now producing more cars in China than in Germany,” Falck continued.
The domestic situation remains critical: According to the Ifo Institute, the order backlog fell to 5.3 points, after 17.1 in August. In July, the stock was rated with a good 52.5 points. Demand has been falling for the first time since May 2020. The value fell from 1.7 to minus 15.7 points. Along the supply chain, the companies would have assessed the finished goods inventory as too large. (os)
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