- Title: German car industry association cries for help from government
- Date: 2nd September 2019
- Summary: WOLFSBURG, GERMANY (FILE - 2015) (REUTERS) VARIOUS OF VW PRODUCTION HALL
- Embargoed: 16th September 2019 14:52
- Keywords: Brexit Frankfurt auto show trade conflict automobiles cars VW IAA CO2 war dispute emissions climate
- Location: WOLFSBURG & FRANKFURT, GERMANY
- City: WOLFSBURG & FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA001AUYSI31
- Aspect Ratio: 16:9
- Story Text: Germany's car industry association VDA called on the German government on Monday to take "urgent action" to strengthen the country's automakers which face "big challenges."
VDA president Bernhard Mattes blamed the trade conflicts between the United States and China and the EU plus Brexit for falling exports, telling reporters in Frankfurt what was needed was "a rapid and consistent implementation, not long discussions."
Last week, the Federal Statistics Office said the outlook for the German economy was uncertain as sentiment indicators pointed to a bumpy road ahead and most economists expect another quarter of contraction which would be a technical recession.
Exports fell more strongly than imports in the second quarter which meant that net trade deducted 0.5 percentage points from overall economic expansion.
The VDA president also commented on security for the upcoming Frankfurt auto show (IAA) which opens its doors on Sept. 12, saying he expected a planned anti-car demonstration to be peaceful.
Police are investigating a group calling itself "Rocks in the Gearbox" after more than 40 luxury vehicles were vandalised at a car dealership in Kronberg on the outskirts of Frankfurt last week.
(Production: Hakan Erdem, Michele Sani)
- Copyright Holder: FILE REUTERS (CAN SELL)
- Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None