Fitch Ratings said leading German automotive suppliers are in a comparably good position to deal with the tough trading conditions of the auto supply industry thanks to technological strengths, enlarged global reach and robust profitability.
While considerable challenges continue to pressure the auto supply sector, German top Tier-1 suppliers have improved their competitive position versus other European and U.S. suppliers, Fitch said.
Two of the world’s top five auto suppliers, Bosch and Continental, are based in Germany.
Also, about a quarter of the biggest 100 global auto suppliers are of German origin. These include sizable private companies such as ZF Friedrichshafen, Benteler, Hella and Mahle, and medium-sized companies such as Leoni, Europe’s leading producer of car wiring systems,