Situation for German Automakers Worsens Slightly

The business situation for German automakers deteriorated in July, with the indicator falling to 20.5 points, down from 22.4 points in June. This is the result of the latest ifo survey. “Car manufacturers appear to have run out of options for passing on rising material costs to consumers,” says Oliver Falck, Director of the ifo Center for Industrial Organization and New Technologies. Price expectations plummeted to 38.6 points, down from 73.1 points in June.