Overview

• The Ifo business climate index for the auto sector fell by 5.7 points to −21.5 in September after gains in the prior two months.
• Business expectations dropped sharply by 8.3 points to −23.1, while the current situation assessment eased 3 points to −19.9.
• Ifo industry expert Anita Wölfl says companies show early signs of disappointment with the new government after hoped‑for structural reforms failed to appear.
• Export expectations rose to 16.7, the highest since April 2023, with Ifo saying the downturn reflects domestic weakness rather than trade uncertainty.
• The government hosts an Auto‑Gipfel at the Chancellery today focused on technology openness, as Chancellor Merz seeks to overturn the 2035 combustion‑engine ban and the SPD opposes the move.