DÜSSELDORF / LONDON (IT BOLTWISE) – The German auto industry faces an uncertain future. Experts like Moritz Schularick predict that the major German automobile manufacturers could disappear in their current form by 2030. The discussions revolve around the need to focus on future technologies such as autonomous driving in order to remain competitive.
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The German auto industry, once the poster child for quality and innovation, is facing significant challenges. Moritz Schularick, president of the Kiel Institute for the World Economy, recently expressed concerns about the future of Volkswagen, BMW and Mercedes-Benz. He predicts that these companies may no longer exist in their current form by the end of the decade. This statement caused a stir in the industry and sparked a debate about the future of the German automotive industry.
Schularick criticizes the backward-looking debate about the ailing auto industry and advocates concentrating on future topics such as autonomous driving. He sees the danger that Germany will fall behind in the next technological revolution, autonomous driving. He shares this concern with many experts who emphasize the need to invest in new technologies to remain competitive.
VDA President Hildegard Müller contradicts Schularick’s forecast and defends the German car manufacturers. She sees successful companies that, however, suffer from high energy prices and German politics. Green politician Cem Özdemir is also confident and emphasizes that German automobile manufacturers can overcome their challenges if everyone involved makes their contribution.
The German auto industry is under pressure, not only from the stagnating economy, but also from high tariffs from the USA and competition from cheaper electric cars from China. The diesel scandal has put additional strain on the image of German car manufacturers. Experts see strategic investors, possibly from China, as an opportunity to gain access to new markets and drive technological innovation.
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