The slump in exports of Germany’s auto industry to China in the first quarter of 2023 could be the beginning of a new long-term trend of “strong disruption” in German-Chinese trade as China’s electric vehicle boom accelerates, a German economic research institute said on Tuesday. German exports of motor vehicles and engines to China plunged by 26% year-on-year in the first quarter of 2023, researchers at the IW institute in Cologne wrote in a report published on Tuesday.
Due to the high share of those goods in Germany’s…German Carmakers To Suffer As China’s EV Boom Accelerates
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