As the global automotive industry struggles to cope with a massive influx of car buyers and owners, car repair companies in Europe and the United States are struggling to cope.
In Germany, the industry is facing an exodus of customers as foreign owners seek better rates.
This is happening despite the fact that the country has some of the lowest car insurance rates in Europe.
Car repair and auto insurance are booming in Germany, with more than one million cars registered for the first time this year.
And the industry in Germany is booming.
The country’s car insurance premiums are just over €1,000 ($1,085) per month, with the average policyholder paying €12,000, according to insurance expert Guglielmo Marconi.
According to a report by the European Commission, the German car insurance market is estimated to be worth more than €2.4 billion ($2.9 billion) and the German industry has seen a huge growth in recent years.
According the report, a typical German car is insured for €1.2 million ($1.7 million) annually.
In contrast, an average car insurance policy is around €200,000.
However, car insurance companies in Germany are struggling with the foreign car buyer problem.
According to the German Insurance Association, the number of car owners from non-European countries who register to renew their German insurance policies has jumped by more than 300,000 people over the past five years.
German car insurance policies are typically cheaper than those in the United Kingdom, France, Italy and Spain, with a combined average rate of €1 per kilometer ($1 per mile) in Germany.
However, German car owners who want to purchase a new car are being asked to pay significantly more for insurance coverage, and German insurers are struggling financially.
The German insurance industry is struggling to keep up with this new influx of foreign car buyers, and is seeing a drop in profits.
The association estimates that car insurance coverage has declined by over €600 million ($650 million) since 2005.
The decline has been attributed to a rise in car accident claims, and an increase in auto insurance rates.
German insurance companies are struggling and are struggling, says German insurance expert.