German automotive industry demonstrates recovery signs
2020-08-04T08:19:10+00:00
Shafaq News/ The automotive industry witnessed a remarkable recovery in demand, Ifo institute said, in a boon for a sector that has been hit hard by COVID-19 pandemic.
The institute said that companies' expectations, demand and order all improved last month but warned that the survey index for the companies' current status remained negative in July.
Volkswagen and Daimler said that customers have returned to the showrooms after relaxing the overall shutdown procedures, which has resulted in a gradual recovery in demand in Europe and China.
Germany's auto sector index witnessed an unprecedented decline due to the spread of COVID-19.
