Automotive market and motor vehicle production: Crash after a record level?

In 2007 6.21 million motor vehicles were produced in Germany. This was a record in the history of the German automotive industry. The apex of business activity in car making was reached in the last months of 2007. Since then the incoming orders for German motor vehicle manufacturing have sunk rapidly. For 2009 a 5 percent decline in car production is expected. In terms of quantity, this would be a drop to below the production level of 2005. This estimate assumes, however, that the financial market turbulence is brought under control in 2009 and that no fundamental disturbance of global structures comes from oil prices. But even under these assumptions, a "crash" on the worldwide automotive market in 2009 cannot be ruled out.