2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
The German motor vehicle industry remains optimistic despite unsatisfactory new and used vehicle sales. The industry expects sales to grow by five percent in the service and parts business.
Despite unsatisfactory new and used car sales, the German motor vehicle industry expects an increase in sales for the current year. In the service and parts business, the industry expects sales to grow by five percent to 27 billion euros, said the Vice President of the Central Association of the German Motor Vehicle Industry (ZDK), Wilhelm Hülsdonk, on Thursday in Frankfurt. Overall, an increase in revenues from 125.5 billion euros in the previous year to around 130 billion euros is expected.
A few days before the Automechanika trade fair, which opens next Tuesday in Frankfurt, the association confirmed the forecast in the new car business of plus two percent to 3.41 million registrations in 2006. One cannot be satisfied with that. "The private buyer prefers the piggy bank to a new car," said Hülsdonk. The used car business also reflects the reluctance to buy among private customers. According to preliminary figures, specialist retailers can expect a slight plus of one percent by the end of the year. "When we sell cars, we go behind the budget figures." Even the anticipated purchases ahead of the VAT hike in January could not reverse this trend.
Due to significant growth in the service and parts business (repairs, retrofitting, tuning), the industry remains confident. Growth markets are primarily the tire business, but also retrofitting with soot particle filters, daytime running lights or navigation systems. According to the information, the number of bankruptcies fell by 35 percent to 200 in the first half of the year. This means that the association now represents 40,500 master car repair shops after 47,000 six years ago.
Industry expert Ferdinand Dudenhöffer sees no new car purchases in the near future. "In the first quarter of 2007, the situation in the automotive market will be very difficult because of the VAT increase," he predicted. The private customers stayed away despite a discount battle in the industry. Business is not expected to pick up again until summer or autumn.
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