Automotive industry expects two-year lean period

Saxony's auto industry is bracing itself for a lean period of about two years. Although demand for vehicles in Europe is rising, it is still 20 percent below pre-Corona levels, Dirk Vogel of industry network AMZ said Tuesday in Zwickau. In addition, production of e-cars is rising more slowly than expected, he added. The comparatively high price of such vehicles is seen as a major obstacle. For new registrations in Germany, it has recently averaged well over 48,000 euros, explained Werner Olle of the Chemnitz Automotive Institute. "Models that are more attractively priced are not expected before 2025/2026," Olle said.