November 27, 2021

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Germany is under threat.  Market crash warning

Germany is under threat. Market crash warning

The signatories to the letter called on the government to pay attention to the deteriorating situation. They assert that “the auto industry is threatened with collapse, and the collapse of the supply chain.”

Bernard Jacobs, president of the Sheet Metal Union (IBU), warned that “devastating market barriers, production disruptions due to component shortages and skyrocketing energy costs have become a devastating combination for suppliers. They could threaten Germany as a business location,” in a letter written jointly with other supplier associations. Auto parts and components.

“The current situation is very dangerous for the mid-size supplier structure,” Jacobs explained.

The shortage of components is forcing car manufacturers to reduce production, which, according to associations, leads to a decrease in their sales by more than 30%.

The associations also note that, especially at this difficult time, a “close alliance between the auto industry and suppliers” is needed. They also emphasized that “the state should do something to reduce energy costs for companies.” The associations have warned that anyone leaving suppliers alone without support poses a threat to Germany as a business location.

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