2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
The picture for German carmakers was also mixed in August: the domestic market is weakening, and exports are keeping production in the domestic plants going.
The German car market is not gaining momentum - but German manufacturers are continuing to grow abroad. The number of new car registrations in Germany fell to 201,000 in August, as the Association of the Automotive Industry (VDA) and the VDIK importers association announced on Thursday. That was 27 percent less than in the same month last year, when the scrapping premium for old cars had boosted demand. In contrast, exports now increased by twelve percent to 252,550 passenger cars. Against this background, production in the domestic plants increased by four percent to 338,500 cars.
Export growth of over 36 percent
"Our robust position on the world markets has once again proven to be a strategic advantage," said VDA President Matthias Wissmann. The export strength also stabilizes employment in Germany. Production increased in the first eight months of 2010 by 17 percent to 3.58 million cars.
The previous growth rates for exports are unlikely to continue linearly. "We rather expect a reassurance at a pleasingly high level," said Wissmann. In the first eight months of this year, exports grew by 36 percent to 2.73 million passenger cars. Incoming orders from abroad were still twelve percent up in August. German brands have gained market share in the US market.
Foreign brands more affected
In the meantime, 1.9 million new cars have been registered in Germany. That was 29 percent less than in the same period last year. As expected, sales are also 9.6 percent below the values from January to August 2008, explained the Association of International Motor Vehicle Manufacturers (VDIK). According to the VDA, foreign brands (minus 39 percent) lost more than German brands including group brands with minus 23 percent.
For the year as a whole, the VDA expects 2.75 to three million new registrations, after a jump to 3.8 million in 2009.
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