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

Listen to this Article Now

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