German automotive lobby warns of industrial decline as companies move abroad
The VDA automotive association reports that many firms plan to reduce domestic investment. Most companies cite high costs as they cut local jobs in Germany.
The VDA automotive association announced today that a survey of its members reveals a significant shift in industrial strategy, with 72% of surveyed automotive companies plan to reduce investments in Germany 
DE (28% by moving them abroad, 25% by postponing them, 19% by cancelling them). This trend, together with widespread job cuts, has raised concerns that the reported shift of investment and employment risks hollowing out Germany's automotive industrial hub with consequences for national prosperity and social and political stability.
DE (28% by moving them abroad, 25% by postponing them, 19% by cancelling them). This trend, together with widespread job cuts, has raised concerns that the reported shift of investment and employment risks hollowing out Germany's automotive industrial hub with consequences for national prosperity and social and political stability.
