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German car industry faces ‘day of reckoning’

• chewz 7y ago
  > You have to consider that with every electric vehicle, manufacturers are losing a tremendous amount of money. That is not expected to change until the middle of the next decade. > A heavy reliance on the sales of profitable luxury cars has left executives with little room for manoeuvre. > “We had a couple of good years and the necessary work of applying cost discipline has not been done,” Mr Kalmbach added. “Companies added fat to their waists.” > The cost of shedding jobs in Germany, often estimated at €100,000 per axed position, forces companies to consider reskilling programmes or wait for employees to retire.