Germany’s favorable geographical location within the coronary heart of Europe allows business with out trade obstacles, due to its integration in the European Union and the Eurozone. A secure single forex and close proximity to other main European markets consolidate the German automotive industry’s advantageous position. Germany’s automotive business offers numerous enterprise opportunities for international firms seeking to enter Europe’s greatest and most progressive automotive market. The automotive business is the biggest business in Germany and the European leader. The sector’s confirmed track document and dedication to new mobility applied sciences make it the world’s auto innovation hub. Germany has become the world’s second-biggest electrical automobile market, with German OEMs already taking steps to safe their place in the future digital mobility market.
- The Joint Standing Committee on Commerce, Industry, and Banking has asked the government to increase the maximum rate of interest for used car and bike loans to