Overview

• Germany’s auto business climate index fell 5.7 points to -21.5 in September, breaking a two‑month upswing.
• Business expectations dropped 8.3 points to -23.1, while the assessment of current conditions eased 3 points to -19.9.
• Ifo’s Anita Wölfl said companies show early signs of disappointment with the new federal government over undelivered structural reforms.
• Export expectations improved to 16.7, the highest since April 2023, reinforcing Ifo’s view that domestic weakness is the main drag.
• The deterioration lands hours before an Auto‑Gipfel at the Chancellery, where debates over technology openness and Chancellor Merz’s bid to overturn the 2035 combustion‑engine ban face SPD opposition.