Germany: Luxury cars leave
Welcoming their blitz-boom, leaders BMW, Mercedes and Audi display confident smiles. Driven by China's growth, the three automakers upscale German came out of the crisis in record time. A year ago, they still increased the pace of layoffs for part of thousands of their employees to cope with the collapse of global demand. In recent weeks, they continue to advance the pace of production to meet the boom in exports.
"Never before has such a situation had been improving at a rate cutting your breath so brutally," enthuses a member of the supervisory board of Daimler, maker of Mercedes, quoted by the daily Frankfurter Allgemeine Zeitung (FAZ).The very expensive "scrappage" introduced by the German federal state, which had boosted sales of Renault-Dacia in Germany, had not benefited the high-end manufacturers. But the system Kurzarbeit, unemployment part financed by the German state, allowed them to retain their skilled workforce and avoid the waves of layoffs. And come back even stronger.
Success of "Made in Germany"
The FAZ, which displays an unusual enthusiasm, believes that "German car manufacturers are experiencing a tale was unexpected." The factories are at full speed. "Mercedes has almost regained its level before the crisis," said a member of the supervisory board of Daimler.
The resumption of exports to the United States but especially in China explains this success.The models are the most luxurious locomotive production pay day loans. Thus, Mercedes increased its production of S-Class 41% in May, while BMW has experienced a surge in sales of 34% of its 7-series.
In factories in Sindelfingen and Bremen Untertürkheim, which produces luxury Mercedes models, the assembly lines now run on Saturday. Just as in Neckarsulm, where the A8 is constructed, the limousine flagship Audi. Several factories are planning to shorten from three to two weeks summer holidays. Daimler plans to hire 2,100 temporary workers to maintain production rates during the holidays. Daimler already employs 1,800 temporary workers. At BMW, they are 5000.The Bavarian company is seeking to recruit hundreds of graduates and plans to train some 1,000 additional workers.
Health insolent the German luxury car industry should result in a significant increase in stock price for the businesses concerned. More broadly, the entire German economy should benefit from the recovery in exports in 2010. The Federation of German Industries (BDI) expects "a growth of 8% of exports," for the current year. "The international demand for" Made in Germany "can pull Germany out of the crisis," said Werner Schnappauf, head of the BDI. The chemical and electrical industries are the sectors that benefit most from the recovery.Result: analysts predict a continuing decline in unemployment in Germany.
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