Text: Understand the original Chedi Shang Tiantian
Recaro Automotive, a Germany car seat manufacturer, announced that Recaro Automotive GmbH, headquartered in Kirchheim and Teck, has filed for bankruptcy with the District Court of Esslingen.
According to the data, Recaro Automotive is a leading global manufacturer of automotive seats, producing ergonomic and sporty seats for well-known car manufacturers such as Aston Martin, BMW· Mercedes-Benz, Ford, and Lamborghini. In addition, the company produces seats for football stadium benches, which are used by Stuttgart Football Club.
Recaro Automotive stated that the bankruptcy proceedings were limited to Recaro Automotive GmbH and did not include any other group companies. It is understood that the Recaro Group has a wide range of businesses, covering aircraft seats, game seats, child safety seats, train seats and other fields, and these companies have not been affected by the bankruptcy incident.
Regarding the reasons for the bankruptcy, Recaro Automotive did not give an explanation in its official statement. Professionals believe that the lack of diversification of the business and reliance on a small number of customers can be a key risk factor. Another reason may be that the automotive supplier industry as a whole is under pressure, with weak market demand and the transition to electric vehicles, especially for "small but beautiful" companies like Recaro Automotive.
Previously, the latest data released by Germany consulting firm Falkensteg showed that in the first half of 2024, a total of 20 German auto parts suppliers with annual revenues of more than 10 million euros filed for bankruptcy, a year-on-year increase of 60%. It is understood that in the business sector, including the automotive industry, a total of 162 companies with annual revenue of more than 10 million euros in Germany filed for bankruptcy in the first half of the year, a year-on-year increase of 41%, of which real estate, automotive supply chain and machinery manufacturing have become the hardest hit areas.