BMW Recall and VW Job Threat Deepen German Industry Crisis.

German carmakers BMW and Volkswagen are facing significant challenges that are impacting the country's automotive industry. BMW has announced a costly brake problem affecting 1.5 million vehicles, leading to a plunge in its shares and a forecasted decline in profits. Volkswagen, on the other hand, has scrapped job protections for workers and is considering shutting down factories due to declining car sales. These developments are further exacerbating the crisis in the German economy, which has already been struggling with the transition to electric vehicles and the loss of cheap gas supplies from Russia. [Extracted from the article]