Morale in German auto industry is still positive

Wiesbaden. Morale within the German auto industry remains positive after the first quarter of 2004 according to a study undertaken exclusively for Automobilwoche.

At the turn of the year manufacturers, dealers, suppliers and financial service providers questioned still had very high expectations according to the "Economic Indicator" (Konjunktur Tacho), a study by ACON business consultants from Wiesbaden,

During the past three months the index fell by five points to 70 but the overall result is positive. Despite the drop 70 points is the second highest result that has been achieved since the introduction of the "Economic Indicator" two years ago.

Both in the level of satisfaction during the previous quarter and the expectations for the coming three months are taken into account to calculate the index.

The ACON poll also showed that manufacturers expect higher export figures although they said that domestic demand for new cars continues to be low. They also still believe that the ageing vehicle population in Germany will push the sales of new cars in the medium term.

The car trade is also positive regarding the future. According to ACON the majority of dealers have benefited from the manufacturers' product offensive.

After a morale low during summer 2003 with 42 points the index has reached the more positive levels of 2002 which achieved 73 points.

With 57 points suppliers' optimism remains limited. Component manufacturers are benefiting from restructuring measures that have been taken.

Their prospects for the future are good. On top of that automobile manufacturers are sending positive signals: their intentions to reduce the level of vertical integration could improve their suppliers' order situation.

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