VDA Sees The German Automotive Industry As "robustly Positioned"

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

The Association of the Automotive Industry sees German manufacturers in a pioneering role. President Matthias Wissmann made politics an obligation to prevent uncontrolled processes in the financial system.

The German auto industry is self-confident before the start of the IAA. The President of the Association of the Automotive Industry (VDA), Matthias Wissmann, said in Frankfurt on Monday that the company was “extremely robust and a global innovation leader”. "The worries only come from outside," he said. If the turbulence in the financial markets could be controlled, there would be no doubt about the stability of the auto market. On Thursday, Chancellor Angela Merkel (CDU) opens the International Motor Show (IAA / September 15-25).

VDA expects normalization in the coming year

Wissmann warned that the real economy could only be affected by uncontrolled processes in the international financial system. He appealed to politicians to do everything possible to stabilize the monetary system. "The financial economy must once again become the servant of the real economy."

For the coming year, the VDA expects the global auto market, which has recently grown rapidly, to normalize. In 2011 around 65 million vehicles will be sold worldwide - after 55 million units in the previous year, as Wissmann said. The German manufacturers have increased their shares in all important markets. "We got out of the crisis brilliantly."

Cancellation of the car toll

Germany is the only EU country that has been able to maintain its industrial share in value creation in recent years. This also provides information on how to cope with the crisis. "A strong real economy is the best basis and guarantee for the future."

At the leading trade fair for the automotive industry, 1012 exhibitors from 32 countries present their products, including 89 world premieres and 94 premieres from suppliers. Central topics are alternative drives including electromobility, which is reserved for its own hall. The entire changing value chain of the automobile is shown there. The VDA is expecting more than 800,000 visitors to the IAA, more than in the crisis year 2009. In the record year 2007 there were around one million visitors.

Wissmann rejected plans for a car toll on German motorways. The drivers should not be burdened additionally. He trusts the word of the Chancellor. Federal Transport Minister Peter Ramsauer (CSU) had proposed the toll to better finance transport spending.