Part 2/13:
Chancellor Friedrich Merz's recent meeting with automaker executives underscores the urgency of addressing this downturn. The sector's decline is compounded by structural headwinds, such as global trade tensions and rising competition from China's electric vehicle segment. Major German automakers like BMW have issued profit warnings, citing weak sales in China and escalating US tariffs. Volkswagen plans to cut 13,000 jobs in auto parts—a stark indicator of the industry's struggling outlook.