· About 90% of German car companies in China cut their performance targets

According to the latest survey released by the German Chamber of Commerce in Shanghai on the 13th in Shanghai, 88.9% of German auto companies in China have recently lowered their performance targets due to factors such as the fraud emissions of the Volkswagen Group and the slowdown in China's economic growth.
According to the German Chamber of Commerce in China, with its strong strength and high market share, in the economic turmoil such as the international financial crisis in the past few years, German auto companies in China have been relatively “immune”, but now they have become “the most affected industries”.
The survey shows that it is closely related to the fate of the auto industry. The German machinery manufacturing industry in China has also been hit hard recently, with 57.9% of machinery manufacturers downgrading their performance targets recently.
The German Chamber of Commerce in China emphasizes that for most German companies, the Chinese market is another core market besides the EU and the US. German companies accustomed to the rapid development of China's economy need to face and adapt to the new normal of the current Chinese economy. “Even in the case of slower growth, China’s successful profitability for German companies is still central.”

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