Crisis ante portas? Fall of Germany’s car production could send shockwaves in Romania

Business Review | Sep 18, 2019 at 8:53 AM
  • Recent collapse in German car production raises eyebrows in central and eastern European (CEE) economies, including in Romania, as automotive sector is backbone for many of these countries, Erste Bank Group said in a recent report.
  • As of June, German annualized car production plummeted to 4.7 million (about one million less compared to 2015-17 average annual production) and reached a level close to the lows seen in 2009.
  • The total passenger car production in Romania reached 263,377 in January-June and could reach a new all-time high this year.