Overview

• The auto sector eliminated about 51,500 positions over the past year, roughly 7 percent of its workforce and the steepest losses of any branch.
• Total industrial employment fell 2.1 percent to 5.42 million by June 30, a net decline of about 114,000 jobs year over year.
• Industry turnover dropped 2.1 percent in the second quarter, marking an eighth consecutive quarterly contraction, according to EY’s analysis of official data.
• EY cites a sharp drop in exports to the United States and weaker shipments to China under higher U.S. tariffs and intensifying Chinese competition.
• Manufacturers and suppliers including Mercedes‑Benz, VW, Bosch, Continental and ZF have announced cost‑cutting, Porsche is winding down its Cellforce battery unit, and EY warns of further job losses with tougher prospects for graduates and engineers.