German car suppliers are finding it increasingly difficult to obtain bank loans.

This came in a survey that included 74 suppliers and was conducted by the consulting firm "Oliver Wyman" and the German Association of the Automotive Industry.

According to the survey, two-thirds of the companies stated that obtaining bank financing has become more difficult over the past three years.

They pointed out that, in addition to high interest rates, banks also demanded more guarantees or shorter terms.

Maximilian Magic, a partner at "Oliver Wyman," said that the increase in financing costs hits companies at an inconvenient time because the industry shift greatly increases the need for capital.

He added: "There is a risk of an increase in bankruptcies in the already crisis-hit automotive sector."

From the banks' perspective, the conditions reflect the increased risk and the changing environment of interest rates.

Hanier Herkenhoff, managing director of the German Bankers Association, said, "It is very important that transformation risks are not financed solely through bank loans."