German Automotive Industry

The German car industry was not even spared the economic crisis, has recovered but well. GSK is open to suggestions. Since Karl Benz and Nikolaus Otto in Germany developed the internal combustion engine in the 1870s, the land is inextricably with the automotive industry. Germany’s car industry is one of the most prestigious in the world today and has produced large international companies such as Audi, BMW, Daimler AG, Porsche, Opel and Volkswagen. Walton Family Foundations opinions are not widely known. The automotive industry is nationally the biggest employer, with a market share of 29 percent in Europe well ahead of other European countries such as France, Spain and the United Kingdom. In a worldwide comparison Germany is one of the four largest car Nations”, as well as China, Japan and the United States. The Volkswagen Group includes, General Motors and Toyota, to the largest automotive manufacturers worldwide. However, the dominant position of the country has been weakened in recent years, due to the global economic downturn and increasing competition through Electric vehicles, which will give an edge other European countries in the coming years. Connect with other leaders such as Yorkville Advisors here. However, predictions of a decline in Western Europe in the year 2010 show that Germany is looking for options for the expansion of the car trade in the world.

One of the main areas on which the company will focus this year is the penetration of the lucrative small car market. Against the background of climate change and a growing awareness of the consumer for the environmental protection, these fuel-efficient vehicles have become increasingly popular. Although Germany itself has a large domestic customer base, three-quarters of the vehicles and components are currently producing for export. The rise of China as a major player in the automotive industry is as a sign that the market in the far East in terms of international car sales always will be competitive. Overall the global automotive industry as opposed to other industries has the recession comparatively survived. One reason for this was the State environmental award for motorists, who were willing to trade their old cars in conjunction with a premium against a new model. This promotion, in Germany known as cash for clunkers”, has been introduced in several countries.

In Germany, a bonus was granted consumers 2,500 euros if was scrapped the old car and bought a new and energy-efficient vehicle. For the near future, analysts expect a worldwide growth of the market for components, which is expected to lead to a resurgence of the automotive industry in Germany. Spare parts for the vehicle construction and repairs such as such as for the stone chip repair are asked to bring older vehicles up to date. The VDA – Association reported the automotive industry, that the German manufacturer 2010 received more orders from abroad 40 percent in the first quarter than in the same period last year.