German car exports fall due to chip shortage – Wel.nl

German car exports fall due to chip shortage - Wel.nl

Wiesbaden (Reuters) – The German auto sector exported 17 percent less cars in the third quarter of this year than the same period last year. This was reported by the German Statistical Office. The numbers once again show that car manufacturers in the EU’s largest economy are clearly suffering from a shortage of spare parts such as chips.

In recent months, exports totaled about 23.1 billion euros. In addition to exports, car imports were also lower. This was a drop of nearly 30 per cent year-on-year of €11.2 billion. And German exports and car imports in the third quarter of this year recorded their lowest levels since the second quarter of last year. At that time, car manufacturers mainly faced restrictions related to the coronavirus.

Internal combustion engine vehicles still represent the bulk of German automobile exports. But there is clearly a shift. In the three main displacement classes of passenger cars equipped with an internal combustion engine, 254,000 vehicles were delivered overseas together in the third quarter. Its value amounted to 8.5 billion euros. This was about 45 percent lower than the previous year.

Increase in electric cars

On the other hand, there has been a significant increase in the export of electric cars. German manufacturers delivered about 69,800 overseas from July to September. The value of these cars amounted to 2.9 billion euros. That was more than a quarter compared to the same period last year.

Most German-made cars went to the US in the third quarter. Other important markets for German automakers are China and the United Kingdom.

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