The German Automotive Industry
Germany is the largest manufacturer of automobiles in the European Union with market reaching a value of $54.02 billion (Data monitor, 2004). It is home to the BMW, Audi, Mercedes-Benz and Volkswagen cars which are world famous for their innovation and quality .
The automobile industry is the largest contributor to the German economy. According to the figures of VDA (2010), the production of German vehicles was 6.0 million in 2008 and 5.2 million in 2009, which puts it at the top among other European countries. The German automobile industry is also an important employment sector. According to the data from ACEA (2010), around 1.4 million people work in the automotive sectors or related sectors in Germany.