Current State Of German Car Industry

Are you planning to travel to Germany to invest in German cars, or have your legal questions concerning electric mobility and the respective public grants??

With more than 857,336 (2016) working in the industry, the automotive industry in Germany is one of the world’s most prominent entrepreneurs. You can visit de.collected.reviews to see reviews about the various entrepreneur. The German automobile industry, which has the world’s third-highest car manufacturing and the fourth-highest total motor vehicle production, is considered the most competitive and innovative in the world.

The German car industry has a long history of sales and worldwide recognition. Germany is honoured for its highly qualified and experienced workforce, research and engineering, infrastructure, complete integration of its value chain. So, if you wish to study automobiles, be rest assured that Germany is the right place to go.

The Industry At A Glance

The car industry is very well known. Cars “Made in Germany” are synonymous with worldwide quality and advanced engineering processes. Avis offers different car models you can think of. The car industry is also a significant driver for European prosperity and innovation.

In 2019, automotive companies recorded a record sale of €435.3 billion, representing 20% of Germany’s total industry sales. In other words, cars are Germany’s largest industry. Industry experts say that the strong growth of the Chinese market in recent years has been a driving force for this development.

This industry has always been attractive to business people. In 2019, nearly 900 companies employ over 833000 people in the German automotive industry.

As a result, the car industry is German engineering students’ most popular career path. The University of Technology offers prestigious courses in engineering, accredited research facilities, and work with key industry players.

International Trade

The German car industry’s competitive advantage as a leading export force concentrates on the higher-priced car segments. German companies dominate around 70% of the premium car market. The production part of the industry also demonstrates this approach.

In 2019, German car manufacturers in Germany produced 16% of their compact cars and 96% of their luxury cars. Industry experts, however, predict that the quality of manufacture in foreign factories will increase, and businesses will grow in the future.

In 2019, 75% of all cars produced in Germany were exported to international markets, and the branch set a new record.

Connectivity And E-Mobility

The automotive industry is being challenged with the emergence of state-of-the-art technology to powertrains. The sector is therefore undergoing adaptation for manufacturers and suppliers to invest in e-mobility massively. Alternative drives in the German automotive market became very important in 2019. The growth in PEVs, plug-in hybrids (PHEVs), and Fuel Cell Vehicles (FCs) showed a 60% increase. However, their market share remained relatively low in 2019 at 3% of all new vehicle registrations.

Therefore, the German government has allocated 2.5 billion euros for improved infrastructure and the promotion of innovative car batteries. Additional grants encourage consumers to buy electric vehicles and attract foreign investment. This is designed to achieve Germany’s targets for carbon reduction.

PwC predicts that more than 50% of all car sales will be electric cars by 2030. Management Consulting Group. As global politics will dominate the fight against climate change, the electricity for vehicles is to come primarily from renewable sources to ensure carbon dioxide-neutral mobility. Therefore, the automotive industry will be shaped by investments in charging infrastructure and improving battery performance and powertrain performance.

In conclusion, technological developments will increase the linkage and interaction between automobiles and their owners and general infrastructure, such as traffic lights. In 2030, PwC predicts that 40% of Europeans would use autonomous driving, and 35% would show an interest in various forms of vehicle sharing, particularly in urban areas, to minimize the cost of mobility. The numbers are projected to be even more numerous in China.