Export expectations in Germany's car sector at lowest

Berlin Export expectations in Germany's car sector have fallen to their lowest level since March 2009, when Europe's largest economy was in the throes of the global financial crisis, Germany's Ifo institute said on Monday. "The prospects for the German car sector have significant

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Published 6 April 2020, 8:00 · Updated 21:43

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Export expectations in Germany's car sector at lowest

Berlin

Export expectations in Germany’s car sector have fallen to their lowest level since March 2009, when Europe’s largest economy was in the throes of the global financial crisis, Germany’s Ifo institute said on Monday.

“The prospects for the German car sector have significantly worsened due to the coronavirus crisis,” Ifo said, Reuters reported.

It said business expectations in the sector for the coming months had dropped to -33.7 from -19.7 in February.

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