German Auto Association Confirms 2011 Outlook, Sees 2012 Slowdown
December 02 2011 - 5:54AM
Dow Jones News
German automotive industry association VDA on Friday confirmed
its 2011 outlook for new car registrations in Germany, but said it
expects a slight slowdown in 2012, if uncertainties in the
financial markets persist.
The country's new car registrations in November rose 3% from a
year earlier to 269,300, while car exports of German brands
increased 7% to 426,800, VDA said. Domestic car production
increased 7% to 555,700.
"2011 is a strong year for the auto market. We expect new record
highs in exports, production and sales," VDA President Matthias
Wissmann said in a statement.
For 2011, the association continues to expect new car
registrations in Germany to rise about 8% to over 3.1 million and
exports to rise 7% to over 4.5 million cars. It also expects more
than 5.9 millions cars to be produced in the country.
-By Neetha Mahadevan, Dow Jones Newswires; +49 69 2972 5507;
neetha.mahadevan@dowjones.com
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