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German car exports fall 17.2% in Q3 due to supply bottlenecks -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: German automaker Audi’s production line amid the outbreak of COVID-19 (coronavirus) in Ingolstadt Germany on June 3, 2020. REUTERS/Andreas Gebert/File Photograph

BERLIN, (Reuters) – Germany suffered a 17.2% drop in car exports in the third quarter, mainly due to shortages in chip supplies and other supply issues, according to data released Monday. The figures show that there was a decrease in sales for cars with combustion engines in Germany, but an increase in international trade for electric vehicles.

The German Federal Statistics Office reported that Germany imported 11.2 billion euro cars and exported 23.1 billion euro cars ($26.03 trillion) in this period. This is the lowest quarter-to-quarter ratio since 2020’s second quarter.

($1 = 0.8874 euros)

 

 

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