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The government wants to help the ailing auto industry, especially suppliers. However, no concrete measures were agreed upon at the Foreign Ministry’s automobile summit. However, there should still be no purchase premiums for combustion engines.
The ailing auto industry can look forward to additional state aid for structural change. However, it is not about taking direct action against the acute sales crisis, such as increasing purchase premiums, but about strengthening the equity of suppliers in particular. This emerges from the outcome document of the automobile summit, quoted by the German press agency.
There are probably no purchase premiums for combustion engines.
Apparently no concrete measures have been agreed. A working group will examine until the next high-level meeting in November whether and how a “market economy concept” could be developed to support the industry. Until then, it will examine how supplier companies can save themselves from bankruptcy. And: What other investments of the stimulus package already decided for the automotive industry are in doubt. Stephan Weil, Prime Minister of Lower Saxony, emphasized after the meeting: “State support for the automotive industry is essential.” Lower Saxony is one of the main shareholders of the VW Group.
One issue is probably off the table for now: buying premiums for diesel and gasoline vehicles as well. This is not mentioned in the final document. Before the meeting, the CSU had made the corresponding demands again. Instead, the top round of the auto industry, unions, and state politicians agreed to advance the digital transformation around cars, such as autonomous driving. The charging network for electric cars should also be more accessible to customers.
Great structural change
In June, the grand coalition decided on an additional program totaling two billion euros for future investments by vehicle manufacturers and the supplier industry. This is intended to promote investments in new technologies, for example. The Ministry of Economy is currently working on implementation.
IG Metall, Greens and SPD had campaigned for a state investment fund to help midsize companies in the auto industry. Many midsize suppliers are still attached to the combustion engine, but they have to invest a lot of money in structural changes.
With information from Christopher Jähnert, ARD capital studio
