German car industry remains upbeat despite diesel affair
Institute for Economic Research (ifo)
Business prospects for the German car industry remain strong despite the ongoing debate about the future of the diesel engine, the Institute for Economic Research (ifo) said in its release on the ifo business climate index, the closely watched indicator for the health of the German economy. “In the automotive sector, cartel allegations and the diesel affair have not been reflected in the survey results to date, with the business climate index remaining at a very high level,” ifo said. The index for the overall economy dipped slightly, showing that the already booming economy is poised for further growth.
Find background on the diesel scandal here.
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