As of: 11/01/2022 1:01 p.m
According to a DIHK survey, the high energy prices are increasingly burdening German companies. The pressure also affects production. Some of the companies in the car industry, for example, are already throttling.
According to a survey, high energy prices are increasingly affecting companies in Germany. The German Chamber of Industry and Commerce (DIHK) speaks of a dramatic situation.
According to a DIHK survey, 16 percent of manufacturers in Germany’s key automotive industry have already reduced their production. 17 percent want to relocate their production. This is the result of a special evaluation of the automotive industry from a DIHK business survey, which was first reported by the “Handelsblatt”.
“The situation in the supplier companies is even more extreme,” according to the DIHK. Here it is one in five who want to reduce (21 percent) or relocate (19 percent) their production because of energy prices.
“Lamps glow red”
According to the DIHK, the automotive industry is symptomatic of developments in the economy as a whole. The overall results of the business survey are to be presented tomorrow. In a letter from DIHK general manager Martin Wansleben to the heads of the chambers of industry and commerce, it says: “In addition, the lights are on red for us because we can see the speed at which the financing situation in companies is deteriorating.”
In the direction of the federal government, it says: “The situation in our economy is dramatic – consistent crisis management and faster action are now absolutely necessary.”
Biggest business risk: energy prices
After the special evaluation, business expectations in the automotive industry plummeted. Only ten percent expect better business in the next twelve months. Half have negative business expectations.
95 percent of the companies see the high raw material and energy prices as the greatest business risk. Two out of five motor vehicle manufacturers speak of a problematic financial situation. In the case of the suppliers, it is even almost half.