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Germany's auto industry: The five challenges for 2024 - A financial expert reports
According to a report by web.de, Germany's automotive industry is facing major challenges. The recently canceled government purchase bonus for electric cars is likely to further impact the ramp-up. Added to this are geopolitical uncertainties and a weakening economy. Experts see sand in the gears and expect the coming year to be challenging. China The position of the Germans in China is eroding to the extent that the change there towards e-mobility advances. The industry needs to act urgently; the main levers are attractive electric vehicles, significant cost reductions and a stronger focus on brand positioning. According to industry experts, a decoupling from China would cause serious long-term damage to the German auto industry. Costs The German…
Germany's auto industry: The five challenges for 2024 - A financial expert reports
According to a report by web.de, Germany's automotive industry is facing major challenges. The recently canceled government purchase bonus for electric cars is likely to further impact the ramp-up. Added to this are geopolitical uncertainties and a weakening economy. Experts see sand in the gears and expect the coming year to be challenging.
- China
Die Position der Deutschen in China erodiere in dem Maße, wie der Wandel dort in Richtung E-Mobilität voranschreite. Die Branche müsse dringend handeln, wesentliche Hebel seien attraktive E-Fahrzeuge, deutliche Kostensenkungen und ein stärkerer Fokus auf die Markenpositionierung. Ein Abkoppeln von China würde die deutsche Autoindustrie nach Ansicht von Branchenexperten langfristig sehr stark beschädigen. -
Cost
German manufacturers must improve their international cost competitiveness. In aggressive price competition you need more room for maneuver. After the end of the e-car bonus, the burden on companies will even increase. Several manufacturers have already announced that they will cover the state share of the purchase premium, at least for a limited period of time. -
software
Software in cars will become increasingly important in the future, be it for driving assistance systems or infotainment, for example. The still weak position of German manufacturers in the software sector is putting a strain on business and is increasingly becoming a decisive competitive disadvantage compared to Tesla and Chinese providers. -
raw materials
An expert sees recycling as one way to reduce dependencies on other countries for raw materials for electric car batteries. Manufacturers could extract a large portion of the materials from older battery generations and put them back into new batteries. -
Suppliers
Many suppliers are in a critical situation after the crises of recent years and with the switch from combustion engines to electric motors. The increased interest rate level is making business more difficult. There is a threat of significant consolidation in the supplier landscape.
Overall, it can be said that the German auto industry is facing difficult times and needs to take urgent measures to remain competitive.
Source:
According to a report from web.de
Read the source article at web.de