Report published September 23, 2026
Europe Multi-Industry: 15th German Corporate Conference - Key Read-Across for EU Multis
Goldman Sachs · September 23, 2026
Feedback from the 15th German Corporate Conference indicates that German multi-industry companies remain confident in near-term demand, particularly in North American commercial vehicles and European automation. However, competitive pressure from Chinese OEMs offering 15-50% discounts is intensifying globally, prompting incumbents to counter through local Asian R&D/production, expanded service networks, and AI integration.
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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Most German industrial companies remain confident about near-term demand, with Daimler and Traton seeing robust North American truck demand driven by replacement, and suppliers forecasting healthy 2H26 and 2027 markets.
- 2.Chinese OEMs are expanding aggressively across international markets at 15-50% discounts, taking share in emerging regions and entering Europe in transport and mining trucks.
- 3.European industrials are increasingly establishing production and R&D in China and India both to defend domestic market share and to export globally cost-competitively.
Report data
15th German Corporate Conference Munich Banner
| Metric | Estimate | Context |
|---|---|---|
| European all-industry growth forecast (Jost Werke) | 0-5%% | Jost Werke outlook for all industries in Europe. |
| North America & Asia truck market growth forecast (Jost Werke) | 5-10%% | Jost Werke outlook for NA and Asia truck market. |
| EMEA truck market growth forecast (SAF Holland) | 5-10%% | SAF Holland expectations for EMEA truck volume growth. |
| NA truck market growth forecast (SAF Holland) | 0-10%% | SAF Holland expectations for North American truck volume growth. |
| Global agriculture industry growth forecast (Jost Werke) | -5-0%% | Weakness in global agriculture, with Latin America worse than North America. |
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