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→Crisis of 2008
Automobile manufacturing is a major sector, but the financial crisis caused credit to be harder to obtain; many families postponed purchases. Auto exports fell 10% in October 2008 from October 2007; domestic sales dropped 8%. In contrast 2007 was a record year with production of 12.1 million vehicles and employment of 756,000 workers; an eighth of those jobs were created in the last five years alone.
Automobile manufacturing is a major sector, but the financial crisis caused credit to be harder to obtain; many families postponed purchases. Auto exports fell 10% in October 2008 from October 2007; domestic sales dropped 8%. In contrast 2007 was a record year with production of 12.1 million vehicles and employment of 756,000 workers; an eighth of those jobs were created in the last five years alone.
The German economy has since recovered and the impact of the ongoing euro crisis isn't being noticed yet.
==History==
==History==