The possible disappearance of historical marks: a concern for the inhabitants of the ‘engine of Europe’

These are difficult and turbulent times for much of the European automobile industry. Historical brands, such as Volkswagen, are not going through their best moment at different points, although especially when it comes to economics. Due to this, the German company has been forced to redo your accounts of expenses or investments for the coming years, at least until the arrival of ID.2the promising electric car that aspires to be the company’s ‘best seller’.

However, although Volkswagen is currently on everyone’s lips, the truth is that it is not the only German firm to present itself with serious financial problems. Others, although on a smaller scale, are also going through hard times, such as BMW or Mercedes-Benz. This is being a cause of concern for German citizens themselveswho have cataloged this situation in a survey carried out in the country by the consulting firm Simon-Kucher.

German citizens are concerned about the state of the industry

According to this studymore than half of German citizens fear about the future of historic national brands. Specifically, their fear is that these tend to disappear from the market and the reasons they give are clear: the high dynamism in the field of electric mobility, the pressure to innovate, new Chinese competitors and European demands on sustainability.

According to the aforementioned consulting firm, there are brands potentially threatened by the industry and that could lead to their disappearance. Among them are truly historic firms. The first and most likely to have future problems is Daihatsu, since 28% of those surveyed believe that it “will disappear soon.”

But this dangerous ranking takes on a European flavor from second place, since 20% consider that Opel is in serious risks. The German brand is followed by others such as Chevrolet (third place), FIAT and Audi tied for fifth place, while further down are others such as Suzuki (sixth place), Ford (seventh place), BMW (eighth place) and KIA (ninth place).

“Established brands face the challenge of ensuring their survival due to multiple aspects. Without adjustments, traditional German brands also risk losing market share and trust! Matthias Riemer, partner of the consulting firm Simon Kucher, in his statement regarding the publication of this study.

On the other hand, Alexander Dietzsenior director of this same consultancy, stated the following: “While Germans are increasingly willing to buy cars, in the leasing sector their willingness to pay is decreasing despite growing customer interest. The main reason is the increasing competitive pressure, driven by new brands from China.”

This survey has also left other relevant data: the 34% of respondents are thinking of buying a Chinese electric car60% have already decided what their next brand will be, 61% see electric cars as the future, 49% will buy an electric vehicle ‘soon’, while 63% will look for a premium brand.