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The The Australian Financial Review article on BMW Group and Volkswagen Group makes for sobering reading. The auto industry is a massive part of the German economy - accounting for about 13% of all exports and 5% GDT. Problems in this sector will reverberate throughout the economy. VW last week shocked workers in Germany with plans to potentially shut factories in the country for the first time in its near 90 year history, while BMW has to recall over 1.5 million cars after braking prpblems. More worrying is the drop in exports to China. VW sales to China are down at least 7% whilst BMW could be down 30%. #capitalmarkets #autonews #electricvehicles #germaneconomy Matthew Reynolds

🇩🇪The expression 'Made In Germany' in the #automotive industry has always represented engineering and business excellence 🚗. However, recent news from Volkswagen Group about job cuts, possible factory closures, and a massive recall of 1.5 million vehicles by BMW Group adds new connotations to the phrase. For the first time in its long history, the German car industry is under such pressure of circumstances: supply chain disruptions, the energy crisis, and intense competition with China. Yet, German carmakers have something that cannot be taken away — an engineering culture and a successful 100-year industry history that has inspired and underpinned the success of carmakers in other countries. Aliaksei Safonau, Head of Automotive Unit at Promwad, devoted his guest column at EE Times | Electronic Engineering Times to this topic, paying a tribute to that history and highlighting the most notable engineering solutions: 🔗 https://lnkd.in/dRtreHWR The German automotive giants will be able to adapt to new challenges backed by their engineering culture and propel their products back to the forefront. And Promwad, of course, will be happy to contribute to this transformation. #EETimes

Around 900,000 people work in the automotive industry in Germany - for now. Many will be eliminated in the coming years and not all of them can be replaced. Suppliers in particular are already feeling the effects of the crisis. Continental has launched a savings program for administration that is to cut 5,400 jobs there. 1,750 more jobs were cut in research and development. ZF Between 11,000 and 14,000 jobs are to be cut by 2028. Bosch has already cut thousands of jobs. Next year, another 1,500 jobs are to be affected at the sites in Stuttgart and Schwieberdingen in Baden-Württemberg. Schaeffler Continental's parent company Schaeffler has been running a savings program since 2022 that will cut around 1,300 jobs. Opel Before the Stellantis takeover, 15,000 people worked at the Rüsselsheim plant, now there are 8,300. Ford operates two plants in Germany, in Cologne and in Saarlouis in Saarland. The latter currently employs around 4,500 people, but in a few years this figure will be reduced to just 1,000. The Cologne plant is being converted into a production facility for electric cars. This will result in 2,300 jobs in administration, marketing, sales and services being lost. Volkswagen (VW) A hiring freeze has already been decided, and the elimination of more than 10,000 jobs has been announced in various cost-cutting programs. BMW There is currently no news of any job cuts at BMW. However, this only applies in net terms, as the Munich-based company also needs fewer employees to build electric cars than for combustion engines. However, the jobs saved there are to be created in the development of battery-powered vehicles. By at least 2030, more employees than before could be required BMW plans to launch its first-ever series production fuel cell electric vehicle (FCEV) in 2028 The situation at Mercedes Benz is similar to that at BMW. Last year, the Stuttgart-based company almost doubled its electric car sales worldwide to 315,000 vehicles. However, CEO Ole Källenius wants to save on management costs. Around ten percent of management levels are to be cut by 2026. Porsche There have been no specific job cuts at Porsche so far. At the end of last year, however, 600 temporary contracts in production were not renewed - but with around 37,000 employees, this is not an unusually high number. VW Germany's largest car company is just the tip of the iceberg. The entire industry is undergoing profound change. On the one hand, sales are lagging: In August, 197,000 new cars were registered in Germany, 28 percent fewer than a year earlier. Sales of electric cars even fell by 69 percent. On the other hand, technological change requires fewer employees. Electric cars consist of fewer components, meaning fewer employees have to assemble them. For German-based car manufacturers and suppliers, this means a profound, probably painful change.

SAIC Motor announces major job reductions at its JV with GM and Volkswagen: … #39;s state-owned automotive giant SAIC Motor Corporation … -rated employees. The automaker’s recruitment efforts earlier … global car market. The automobile giant’s ability to … automotive market. Navigating this period of transformation, the state-owned automaker … #car #cars #awesome

Europe automotive - 📉 German auto industry loses sales and jobs Volkswagen's CEO advocated significant cutbacks in the German carmaker's home market. He emphasized the need for change due to the shrinking European market and rising competition. He mentioned that fewer cars are being sold in Europe, and new Asian competitors are entering the market. Volkswagen is considering closing factories in Germany and ending job guarantees at six plants to advance a 10 billion euro ($11 billion) cost-cutting plan. #germany #europe #carmarket #carmanufacturer #automotive #jobs https://lnkd.in/eMc572Zn

SAIC Motor announces major job reductions at its JV with GM and Volkswagen: … #39;s state-owned automotive giant SAIC Motor Corporation … -rated employees. The automaker’s recruitment efforts earlier … global car market. The automobile giant’s ability to … automotive market. Navigating this period of transformation, the state-owned automaker … #car #cars #awesome

Volkswagen, a major player in the automotive industry, is facing a significant moment in its 87-year history as it considers closing its German factories for the first time ever. Several challenges are driving this decision: ★Affordable electric vehicles from Chinese manufacturers are changing the European car market. ★Germany, once a strong manufacturing hub, is losing its edge, putting pressure on Volkswagen’s operations. ★VW is losing market share, especially in China, where local electric car brands like BYD are tough competitors. ★ The company may need to cut costs even more, which could affect job protection agreements that have been in place since 1994. As Volkswagen navigates these challenges, its ability to manage costs and maintain its workforce will be crucial for its future. It's a critical time for one of the world's biggest carmakers, and the outcome will be closely watched.

Volkswagen threatening job cuts in Germany and warning it may shutter factories there for the first time is a reality check for Europe’s anemic auto market. Nearly a third of major passenger-car plants from Europe’s five largest automakers—BMW, Mercedes-Benz, Stellantis, Renault and VW—were underused last year, producing fewer than half the vehicles they have the capacity to make, according to a Bloomberg News analysis. Sites shutting down would add to concerns that the region is facing a protracted downturn after falling behind competitors.

🚗🔧 As recruiter's with over a decade of experience, we understand the importance of staying informed about the leading car manufacturers in the industry. According to the latest data from Statista, the top three car manufacturers in the world are Toyota, Volkswagen, and General Motors. These companies have consistently held their positions at the forefront of the industry, with Toyota producing over 10 million vehicles in 2023 alone. (Source: Statista) If you're looking to break into the motor trade sector, it's essential to be knowledgeable about the key players in the market. There are some exciting opportunities in the automotive industry! 🌟🚀 #MotorTrade #AutomotiveIndustry #CareerOpportunities

Fortune Global 500 - Automotive Sector 2023 The top ranked automotive company in the Fortune 500 list 2023 is Volkswagen (15 overall, down 7 spots over last year), followed by Toyota (19 overall down 6) The auto industry has been impacted by a supply issue initially followed by a demand problem. Profitability of 7 out the top 10 auto companies is down over last year, exceptions being Stellantis, BMW and Hyundai. Stellantis, formed in 2021, owner of 14 brands, is ranked 3 in auto (31 overall down 2). The top US company at 4 in auto sector is Ford Motor (46 overall up 7 spots). Mercedes-Benz is ranked 5 (47 overall down 9) and is the top German Company. The top Chinese company is SAIC at 9 (84 overall down 16). Hyundai is the top ranked Korean company at 10 (85 overall up 7). Together the Hyundai Motor Group, Hyundai and Kia, would be ranked 4, but both are reported separately Tesla jumped 90 spots to come in at 13 (152 overall up 90). Tata Motors, owners of the Jaguar Land Rover, is the top In