Germany's automotive market is the largest in the EU, but only a modest size compared with those of China and the US. Since 2000 annual average new-car sales of 3.2m and commercial vehicle sales of 300,000 have accompanied a mild upward trend (amid volatility) in domestic vehicle production. Germany is the world's fourth-largest vehicle manufacturer and the largest in Europe.
After declining in 2012-13, new-car registrations rose by a modest 2.9% in 2014 and a more robust 5.6% in 2015, as the EU registered its strongest annual growth since 2009 (when sales were boosted by state-backed scrappage schemes). Consumer fundamentals have strengthened in Germany in recent years, driven by positive labour market developments and external stimulus, but sentiment has dipped since late 2015 amid a more uncertain global outlook.
The Economist Intelligence Unit forecasts growth of 2% in new-car registrations in 2016, followed by fairly subdued sales activity in 2017-20. Household finances will remain fairly healthy, but real income gains from low inflation will diminish, against a backdrop of subdued underlying demand in the euro zone and heightened financial market volatility. The commercial vehicle market is likely to see only modest growth during the forecast period.
Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Automotive Report Germany 1st Quarter
Automotive report: Overview
Automotive report: Passenger cars
Automotive report: Commercial and other vehicles
Automotive report: Production
Automotive report: Fuel sources