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Master plan for Southwest Saxony: starting signal for the car revolution!
The Southwest Saxony Master Plan prepares Central Saxony for change in the automotive industry, with a focus on new economic challenges.
Master plan for Southwest Saxony: starting signal for the car revolution!
The economic upheaval in the automotive industry has Central Saxony firmly in its grip. The “Master Plan for Southwest Saxony” is now intended to set the course for the future. How sächsische.de reports, the regions of Erzgebirgskreis, Vogtlandkreis, the city of Chemnitz as well as the districts of Zwickau and Central Saxony are facing major challenges, because one in four jobs in southwest Saxony is directly related to the automotive industry. The IHK Chemnitz estimates that around 1,200 companies in Central Saxony will be part of this industry in 2023.
At the VW factory in Zwickau, production was stopped for a week at the beginning of October after delivery problems arose at a semiconductor supplier. These uncertainties are just the tip of the iceberg, as the automotive and supplier industries will fundamentally change in the coming years. The decline in employment is clearly noticeable here; The decline in the automotive industry is much more drastic than in other sectors of the economy.
Strategies for change
What can companies do to overcome these challenges? Loud Deloitte there are different strategic options. These range from spin-offs to restructuring and mergers. The “Harvest” strategy, for example, aims to maximize investment returns in declining markets, while the “Adapt” phase requires radical innovation to remain successful in the aftermarket.
Companies therefore have to decide: Do they want to survive and secure their market share or perhaps even dare to make a fresh start? Strategies such as “close down” may seem attractive in the short term, but often lead to a slow decline without an external partner.
The economic prospects
A change in value creation is also inextricably linked to the challenges facing the automotive industry in Central Saxony. Many of the companies in this region are active not only in the automotive sector, but also in mechanical engineering, which offers some diversification. Nevertheless, there are only a few companies whose products can be assigned exclusively to the automotive industry.
The master plan is intended to help develop a strategy for the transformation process in order to better prepare the region for these significant changes. In this way, the economy of Central Saxony will not only be realigned, but also prepared for the future while it has to adapt to changing economic circumstances.
In summary, it can be said that Central Saxony is facing a groundbreaking period. Hope and challenges are close together, and it remains to be seen how the region will navigate this profound change.