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Autos

Germany's car industry shows initial signs of recovery: Ifo

BERLIN (Reuters) - Germany’s car industry has seen demand picking up after coronavirus-related restrictions were eased and auto industry exports are expected to rise, a survey published by the Ifo economic institute on Tuesday showed.

Business expectations, demand and order books all improved last month, Ifo said, but it cautioned that the survey’s indicator for the current business situation was still negative in July.

Volkswagen VOWG_p.DE and Daimler DAIGn.DE have said customers have returned to showrooms after corona lockdowns eased, resulting in a gradual rebound in demand in Europe and China.

Reporting by Riham Alkousaa and Edward Taylor; Editing by Michelle Martin

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