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Job Losses Scares The German Auto Industry
According to the head of the trade association, the sector is facing high costs for personnel, energy, and taxes. “Conditions are deteriorating noticeably,” VDA President Hildegard Müller told the German media group RND on Wednesday. “Unfortunately, based on current calculations, we must now assume that 225,000 jobs will be lost by 2035.”
This would cause Germany’s automotive industry to lose about 35,000 more jobs than previously predicted. The trade association had previously projected 190,000 job losses between 2019 and 2035.
According to her, suppliers in particular are being hit hard by job losses due to the transition from internal combustion engines to electric cars. She also attributes the worsening outlook to a “serious and persistent competitive crisis” in Germany and Europe.
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