German automakers' first-half revenue slips as overseas rivals surge
Volkswagen, Mercedes-Benz and BMW posted a 2.9% drop in first-half revenue, while 19 foreign car groups grew by 3.6%, according to EY.
Consultancy EY reported that Volkswagen, Mercedes-Benz and BMW together generated roughly €284 billion in revenue during the first half of the year, a 2.9% decrease from the prior period and the third straight half-year drop. Meanwhile, 19 other global automotive groups boosted their combined sales by 3.6% to just under €1.048 trillion, pushing the German manufacturers down to 16th, 17th and 19th places in the ranking.
Tesla recorded the strongest growth, followed by Suzuki and Geely. The profit metric EBIT for the German trio fell 19% to €13 billion, the lowest figure since the pandemic year of 2020, though they still outpace many rivals in absolute terms. Performance also weakened for Chinese and Japanese makers, while U.S. firms Ford, General Motors and Tesla posted a 32.9% increase.
Why it matters
The slide highlights Germany's waning competitiveness in the global auto market, affecting jobs and economic growth.
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