Supplier: Conti-chief: broke shaft in the auto industry, threatens to

Continental CEO Elmar Degenhart expected for the case of a continuing slump in Demand due to the Corona-crisis drastic consequences for the whole car industry. The policy must therefore against taxes.

The Chairman of the Board of the Dax group from Hanover, said in an Interview with the German press Agency, the difficult structural changes from digitization, E-mobility, and assistance systems is to create many small companies to. “On top of a market crisis, which was no longer so since 1930 is to come. If in the summer, no significant recovery of the market in Europe is looming, we fear, in spite of all support measures a series of bankruptcies.”

The German key industry lack of car purchases and problems in the supply chains. “The second quarter is likely to be economically the most difficult of the post-war period,” said Degenhart looking at the major suppliers of entire equipment systems, such as Conti.

The previous economic program of the Federation of the Manager with mixed feelings. The lowering of the VAT up to the end of the year, will “have some effect”. But the exclusion of modern burners of the purchase premium was disappointing. Important now the cost of a decrease in the energy.