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VW CFO sees too much pessimism over German economy
The general mood in Germany’s largest economy is worse than the actual situation, As seen in the coverage by Volkswagen Group.
Germany is struggling to regain momentum after the pandemic and is forecasted to be the only G20 economy, aside from Argentina, to contract this year.
The country is facing challenges from an energy crisis, a lack of demand from China, red tape, and changing demographics.
VW itself is facing hurdles in the transition to electric cars, with internal errors and infighting contributing to the slow response.
VW CFO sees too much pessimism over German economy
Volkswagen Group’s Chief Financial Officer, Arno Antlitz, believes that the general mood surrounding Germany’s economy is excessively pessimistic. Despite the challenges posed by the pandemic and various factors affecting the economy, Antlitz highlights Germany’s well-educated workforce, technological strengths, and strong small-business sector as reasons for optimism. However, the country is still facing obstacles such as an energy crisis, decreased demand from China, red tape, and changing demographics. Additionally, VW itself is working to overcome hurdles in the transition to electric cars, including internal errors and infighting. Antlitz emphasizes the need for cost-cutting measures to ensure competitiveness in Germany and Europe.
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