German car makers plan for further jobs losses
Thursday 26 August 1993
'Only in this way will we be successful in regaining a competitive advantage over foreign rivals,' Erika Emmerich, the VDA president, said.
Amid dismal sales and output figures, the association said it saw the first faint hints that the worst was over for its members. While domestic new orders continued to stagnate, there was a weak pick-up in export demand. The VDA said it hoped output would rise next year by as much as 5-6 per cent from 1993. But recovery would be slow and risked being hampered by the government's planned fuel tax increase at the beginning of 1994.
In the first seven months of this year, car production was 26 per cent down on the same period last year, and the VDA forecast that domestic car sales in 1993 would drop to 3 million units from last year's 3.9 million.
The association drew attention to what it called the silent exodus of production from Germany. Under massive cost pressures, 65 per cent of all component suppliers are planning to shift some production abroad.
'Drastic action is needed to save this vital sector of German manufacturing industry,' it said.
Mercedes-Benz and BMW have announced plans to start production in the US, while Volkswagen intends to expand into China.
The Washington Post editor helped Bob Woodward and Carl Bernstein bring down President Nixon
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
- 1 Salisbury ranked seventh-best city in the world to visit in Lonely Planet’s Best in Travel 2015
- 2 Disney announces new female-led film Moana
- 3 Banksy has not been arrested: Internet duped by fake report claiming artist's identity revealed
- 5 Russell Brand threatened with arrest after filming outside Fox News headquarters
Chicago voter tells Obama 'don't touch my girlfriend' – Obama stays super smooth
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy has not been arrested: Internet duped by fake report claiming artist's identity revealed
Ebola outbreak: Nowhere is safe until virus is contained in Africa, claims the top doctor who beat it in Nigera
Raphael Ravenscroft dead: 'Baker Street' musician who played the most famous saxophone solo for just £27, dies aged 60
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Worst Airports of 2014: Poll names Islamabad airport in Pakistan worst in the world
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...
£27000 per annum + pension, 22 days holiday: Ashdown Group: An established ind...