0 sats \ 0 replies \ @TomK OP 14 Jun \ on: Germany's automotive industry suffers from politics econ
An EY study reveals a challenging first quarter for Germany's leading auto manufacturers, marked by a slight revenue dip and a significant 25% profit drop. This downturn places them behind many international competitors, highlighting an increasing headwind in the automotive sector.
Constantin M. Gall, Managing Partner and Head of Mobility at EY Europe West, remarks, "Der Gegenwind für die Autobranche nimmt zu." The impact is evident as German companies cede their top positions in profit margins. Kia now leads with a 13.1% margin, outpacing last year's leader Mercedes-Benz, which falls to 10.8%, just behind BMW at 11.1%.