Germany: Industry experts expect a decrease in demand for cars

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A decrease in the demand for new cars due to the increase in inflation, the cost of energy and more expensive materials, industry experts expect.

In a few months, difficulties in supply chains will no longer be a problem for manufacturers, but the willingness of customers to buy a new car will be significantly reduced, the Center for Automotive Research (CAR) in Duisburg says in its monthly report.

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According to chief expert Ferdinand Dudenheffer, high inflation, energy costs and a planned reduction in government subsidies for electric cars will inevitably lead to curbing demand. As CAR points out, in May and June the German automaker built 21% more cars than in the same period last year, while order delivery times have already decreased significantly.

“Right now there is almost no incentive to buy,” the report said, adding that electric car prices are expected to rise in the near future, mainly due to rising costs of nickel and lithium needed for batteries.

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Source: AMPE

Source: Capital

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