German Auto Industry Facing the Abyss

Carmakers in Germany are facing their worst crisis in decades, with hundreds of thousands of jobs at risk. BMW and Mercedes are especially vulnerable

It was time for Martin Winterkorn to relax. The exhausted chairman of the VW Group was sitting in a leather seat on the company jet, coming from a conference in Berlin where he warned attendees of the consequences of the financial crisis. It had been a long day. It was 9 p.m. and he was still in the air.

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