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Italy's largest newspaper announced “The end of the German car myth”: this assessment was made by journalist Francesco Bertolino on the pages of the newspaper Corriere della Sera.
In his opinion, the German auto industry is experiencing a serious crisis, which has a number of reasons:
- Energy prices. After the cessation of Russian gas supplies, the price of energy resources in Germany increased sharply. Without cheap gas, car production in Germany has become significantly more expensive.
- Difficulties in China. Sales in the Chinese market have fallen due to the boom in electric vehicles and the protectionist policies of the PRC authorities, which give preference to local manufacturers.
- Electrification. German manufacturers missed the trend towards electric vehicles and are now catching up too late. The new market is dominated by China, especially in the areas of batteries and software.
- Excess capacity. Germany can produce up to 6 million cars a year, but last year they produced only 4 million. The industry does not have time to adapt to this, production facilities are idle.
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