Economic framework conditions

While German carmakers are currently suffering from damage to their
reputation and credibility, they are nevertheless in good financial shape and
generate high profits. This will make it easier for them to bear higher expenses
in the coming months and years. However, car sales in the US, in China and in
the UK have recently slowed. Moreover, it remains to be seen how many buyers
decide against a German car in the coming months on the grounds of the recent
scandals and crises. So far, any shifts at the global level have been limited.

But as the protracted crisis in the financial sector (which I have experienced first-
hand) has shown, credibility and trust are particularly important commodities for
companies.