J.P. Morgan Asset Management - The Weekly Brief

09.09.2024 12:30 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Europäische Automobilhersteller haben in den letzten Jahren schwierige Zeiten durchlebt, was durch die jüngste Ankündigung von Volkswagen, erstmals die Schliessung von Werken in Deutschland in Erwägung zu ziehen, verdeutlicht wird. Die Branche kämpft mit nach wie vor hohen Energiepreisen, klimabezogenen Vorschriften und hohen Finanzierungskosten. Neben diesen Herausforderungen sehen sich die Automobilhersteller auch einer zunehmenden Konkurrenz durch chinesische Unternehmen gegenüber. Die chinesische Regierung gewährt grosse direkte und indirekte Subventionen an chinesische Autohersteller, was diesen Unternehmen hilft, die Preise europäischer Firmen zu unterbieten – sowohl in Europa als auch in Drittländern, in die europäische Autohersteller traditionell exportiert haben. Zinssenkungen der Europäischen Zentralbank könnten den verschuldeten europäischen Automobilunternehmen am Rande einen Schub verleihen. Doch ohne eine unwahrscheinliche Änderung der Klima- und Energiepolitik der EU scheinen Zölle derzeit die einzige Option zu sein, um die Wettbewerbsfähigkeit der heimischen Automobilhersteller zu unterstützen.

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