Agency Report –
Facing a crisis in Germany’s auto industry, Chancellor Friedrich Merz plans to convene a car industry summit on October 9, government sources told dpa on Saturday.
Facing a crisis in Germany’s auto industry, Chancellor Friedrich Merz plans to convene a car industry summit on October 9, government sources told dpa on Saturday.
The meeting is expected to bring together several Cabinet ministers, the premiers of German states with major car plants, leading manufacturers and suppliers, as well as labour representatives.
Merz had announced plans for such a gathering after a coalition committee meeting in early September.
Germany’s automotive sector is suffering from slumping sales, growing competition from China and the shift to electric mobility, compounded by a tariff fight with the United States.
Many companies have responded with drastic cost-cutting measures, job reductions and shift cancellations.
Volkswagen, Mercedes-Benz, BMW, Porsche and Audi have all recently reported sharp profit declines.
German auto supplier Bosch announced on Thursday plans to cut a further 13,000 jobs.
