Shock in the auto industry: sales figures in the downward trend!

Shock in the auto industry: sales figures in the downward trend!

The German automotive industry has to deal with noticeable declines in sales, which has led to a striking slump in income. This development is the focus of a current communication by the Federal Statistical Office, which reports that the income in the first half of 2024 has decreased by 4.7 percent compared to the previous year. These declines come at a time when the industry is already affected by a variety of challenges, among other things from falling demand for electric vehicles.

Wiesbaden is the scene of these worrying statistics, which are a clear warning to the large automobile manufacturers. Companies like Volkswagen have already started to take drastic measures, including the deletion of thousands. Mercedes and BMW also feel the effects of the burglaries that, according to experts, make it necessary to think about savings. This situation raises questions about future developments in the industry and lets the possible change in the gainful figures.

drastic decline in sales and export share

In the entire first half of 2024, the sales of the automotive industry were around 269.5 billion euros, which is a significant decline compared to the record numbers of 2023 (282.6 billion euros). The decline in the body, buildings and trailers, where sales fell by 11.6 percent, was particularly striking. The sector for parts and accessories also had to accept a decrease of 5.4 percent, while the production of motor vehicle recorded a decrease of 4.3 percent.

Despite these declines, the automotive industry remains an important economic pillar in Germany, with a share of 25.2 percent in total sales. It is noteworthy that a large part of the sales are generated by export, which makes impressive 70 percent of total sales. This achieved export sales of 190 billion euros, which has been the highest proportion of total sales in 15 years.

Stagnation in new car exports and declining employment figures

An interesting observation is the almost stable number of exported new car compared to the first half of 2023, which only decreased by about 0.3 percent. Nevertheless, there is a growing problem: only 22.7 percent of these exported vehicles were pure electric cars, which represents a decrease of 2.5 percent compared to the previous year. This is still a significant increase compared to 2022 when there was an increase of 113.9 percent, but this raises questions about the future and sustainability of e-mobility.

The figures mentioned come from the monthly report of the Statistical Federal Office and are based on reports of companies that employ at least fifty employees. These developments and the associated effects on the industry are of great interest and are still observed to gain a better understanding of the direction in which the German automotive industry moves. Further details can be found in a report on www.merkur.de