Automotive Industry and Markets

Coronavirus-Bulletin

Here you will find recent news regarding the effects of COVID-19 on the automotive industry.

Measures passed by the Bundestag to combat the impacts of the coronavirus

Berlin, March 25, 2020.

Today the German Bundestag (lower chamber of parliament) passed measures to combat the economic effects of the coronavirus. They include the supplementary budget for 2020 as presented by the German Government and the Economic Stabilization Fund Act (Wirtschaftsstabilisierungsfondsgesetz).

VDA President Hildegard Müller welcomed the measures and drew attention to the volume of expected applications: “The assistance measures passed by the German Government and approved today in the Bundestag are right and proper. We are checking whether they take effect in the companies – of all sizes – and hope that the authorities and administrative offices will be in a position to process the very large number of applications within a short time.” For many companies swift help would be essential, Hildegard Müller underscored, and added: “If applications are not processed quickly and assistance is not approved promptly, it will come too late for some companies – during this period it is certainly possible that companies will run into cash flow problems owing to the current situation.”

The VDA president proposed bringing in other players so that applications could be processed as quickly as possible: “It is worth considering whether state offices should use capacities of the private sector and service providers to process the applications and implement the assistance measures, in order to speed the processes up."

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