More optimistic forecast for German automotive industry

19/05/2023

Automotive industry organisation VDA has increased its forecast for the German passenger car market this year. It now predicts growth of 4% year on year, with sales of 2.75 million vehicles.

German car factories produced almost 1.5 million vehicles, for the domestic and export markets, in the first four months of the year, an increase of 35% year on year.

It noted that, while demand for battery-only electric vehicles has gone up, there has been a slump in new registrations of plug-in hybrids.

As a result, VDA said, new registrations of electric vehicles declined by 11% overall in the first four months of the year, falling to 173,900 cars with electric drives.