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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Germany's car industry shows initial signs of recovery

| Updated: August 06, 2020 10:06:03


A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe's largest car factory after coronavirus shutdown in Wolfsburg, Germany on April 27, 2020 — Swen Pfoertner/Pool via Reuters A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe's largest car factory after coronavirus shutdown in Wolfsburg, Germany on April 27, 2020 — Swen Pfoertner/Pool via Reuters

Germany’s car industry has seen demand picking up after coronavirus-related restrictions were eased and auto industry exports are expected to rise, a survey published by the Ifo economic institute on Tuesday showed.

Business expectations, demand and order books all improved last month, Ifo said, but it cautioned that the survey’s indicator for the current business situation was still negative in July.

Volkswagen and Daimler have said customers have returned to showrooms after corona lockdowns eased, resulting in a gradual rebound in demand in Europe and China.

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