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Automotive Report Germany 1st Quarter

  • ID: 2138442
  • Report
  • Region: Germany
  • 13 Pages
  • The Economist Intelligence Unit
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Germany's automotive market is the largest in the EU, with annual vehicle sales of about 3.7m a year, although it is modest compared with those of China and the US. Domestic vehicle production fell in 2017-18, but remains the highest in Europe and the fourth highest in the world, reflecting the success of the country's manufacturers in selling the cachet of German auto engineering to the new middle class in the world's developing economies.

Annual new-car sales in Germany rose steadily between 2013 and 2017, amid a broader upturn in the European market. In 2017 new registrations totalled an eight-year high of 3.44m. Growth has moderated in recent years, however, and in 2018 new-car sales dipped marginally, by 0.2%. The German economy (and car sales) lost momentum over the second half of 2018, amid weakening global growth and elevated trade tensions. Domestic new-car sales and vehicle production were also hit by the introduction of new emission standards in September-the worldwide light vehicles test procedure (WLTP)-with a more prolonged impact than expected.

The Economist Intelligence Unit forecasts a slight bounce-back in new-car sales in 2019 from WLTP disruption, with growth of 1%. Risks are weighted to the downside, however, given the broad deterioration in German (and euro zone) economic data since mid-2018. In terms of fundamentals, household finances are respectable, borrowing costs are low and there is scope for fiscal stimulus. But amid diminished pent-up demand and a weaker external environment, over the forecast period as a whole we expect a subdued compound annual growth rate (CAGR) of 0.9% in 2019-23. We forecast a slightly stronger 1.4% rate for commercial vehicles (CV) sales.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
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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
Note: Product cover images may vary from those shown
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