German car trades plummet 17.2% in Q3 due to supply bottlenecks

Due to chip shortages and other supply bottlenecks, Germany’s car exports fell 17.2 percent in the third quarter, according to figures released on Monday, indicating a reduction in sales of cars with combustion engines while worldwide commerce in electric vehicles surged.

According to figures from the German Federal Statistics Office, Germany exported 23.1 billion euros ($26.03 billion) and imported 11.2 billion euros in the first quarter of this year, the lowest quarterly levels since the second quarter of 2020.

Story by : Norvisi Mawunyegah