Global Situation Not Only German Car Manufacturers Suffer from Sales Difficulties

Source: dpa | Translated by AI 1 min Reading Time

German carmakers are selling less than usual in these times of crisis. But other major manufacturers are also struggling with declines. One manufacturer, which initially caught up rapidly, is particularly struggling ...

Car sales have been below potential levels for some time. This applies worldwide to many manufacturers, as an analysis by CAM reveals. Read here who is faring relatively well and who is not ...(Image: Imaxx)
Car sales have been below potential levels for some time. This applies worldwide to many manufacturers, as an analysis by CAM reveals. Read here who is faring relatively well and who is not ...
(Image: Imaxx)

German car manufacturers saw a significant decline in sales in the first half of the year, but according to a study, they are not the only ones affected. Almost all major manufacturers reported declining sales, as an analysis by the Center of Automotive Management (CAM) in Bergisch Gladbach shows. Of the 20 manufacturers analyzed, 14 were in negative territory. However, the already known sales declines of the German groups VW, Mercedes-Benz, and BMW are all above the average of the world's 20 largest manufacturers, which is stated as minus 2.8 percent. Nevertheless, there are also six companies in this group that have been hit even harder. Those who fail to quickly adapt to the new market and technology conditions risk being phased out in the long term.

The Antlers of the Chinese Top Dog Are Becoming Duller

German manufacturers suffered significant declines in the important Chinese market during the first half of the year. However, its weakness and the extremely strong competition hit Chinese players even harder, according to the report. The long-successful market leader BYD, for instance, recorded a sharp 39 percent decline in China. According to CAM experts, rising exports cannot offset this loss. Globally, BYD posted a 15.7 percent decline. Toyota, as the world’s number one, widened its lead over VW, as its 3.1 percent decrease is only half as severe as Volkswagen’s, which recorded a 6.5 percent loss across the group, including all subsidiaries. Collectively, the 20 analyzed manufacturers sold around 1.1 million fewer cars than in the same period of the previous year. However, individual manufacturers, such as Tesla, Stellantis, or Suzuki, achieved significant growth. According to CAM, this is partly due to particularly weak comparative figures from the previous year.

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