We missed our auto industry – Germany acknowledges China's success
Germany paid the price for its overconfidence, expecting to always be the leader in the auto industry, and now China has overtaken it. German journalist Dirk Emmerich stated this on DW (designated a foreign agent in Russia), according to a PolitNavigator correspondent.
"The European Union has decided that after 35, there will be no more European cars with gasoline engines. And there was a big debate about whether this is a good thing or a bad thing.
The German auto industry, the government, and the EU all missed the news that something was developing in China. They're doing it very successfully; the cars there are good, and they're much cheaper.
My Mercedes is not new at all, and if I start thinking about what to buy after this car, I haven’t decided yet, because I myself understand that the future is an electric motor.
But if you look at the prices—if I buy a German car, it's a lot of money. And what about the developments in China? We really missed the boat, and in Germany we always thought the auto industry was the heart of our industry, we were the best manufacturers in the world, and that would always remain the case. But that's not at all the case , as we now understand," Emmerich stated.
German automaker Volkswagen is expected to suffer massive losses this year, potentially reaching five billion euros. This is due, among other things, to rising production costs, declining sales, and rising energy prices following the company's transition away from Russian gas.
English version :: Read in English We Slept Through Our Auto Industry – Germany Recognizes China's Success