German auto industry in crisis as investment and jobs move abroad
Germany's position as an automotive industrial hub risks weakening as investment and jobs move abroad, an industry association has warned, calling on Berlin and Brussels to focus on measures that boost growth.
A VDA survey of German small and medium-sized enterprises across the entire automotive supply chain showed that 72% of companies plan to reduce their investments in Germany, either by moving them abroad (28%), postponing them (25%) or canceling them completely (19%).
Just under two-thirds of the 124 companies surveyed cut jobs in Germany last year, with 87% citing competitive disadvantages. Currently, 49% are cutting jobs in Germany, compared with just 7% cutting jobs abroad.
German auto suppliers have faced falling orders, strong competition from abroad and a difficult transition to electric vehicles and software, as major carmakers such as Volkswagen and Mercedes, as well as suppliers Bosch and Aumovio, have announced tens of thousands of job cuts.
The number of jobs in Germany's auto industry is at its lowest point since 2011, according to government data from November.
The job losses would also have political implications, as the far-right Alternative for Germany (AfD) was targeting businesses where workers lack job security.
Experts criticize an EU package of measures to support European car manufacturers as they transition to electric cars and more environmentally friendly production.
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