In 2015 and 2016, we expect to see further growth in vehicle sales in Germany, forecasting 5.3% and 4.7% growth, respectively. We project that 0.8% and 0.6% declines in heavy truck sales over the two years will be far outweighed by 5.3% and 4.0% expansion in the passenger car segment, an 8.0% and 3.4% increase in light commercial vehicle (LCV) sales and a 4.2% and 2.0% growth in the coach and bus segment.
Passenger car sales will provide the strongest boost to overall vehicle sales in terms of volume. In 2015 and 2016, the car market will benefit from Germany's consumers ramping-up spending in reaction to positive and robust macroeconomic factors. Most notably, growing real wages, record high labour force participation rates and falling unemployment - which reached a post-reunification low of 6.4% in June - all coupled with record low interest rates will provide the strongest boost to demand.
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Adding to this, LCV sales will outperform all other segments in terms of y-o-y growth. LCVs will benefit from the country's resurging manufacturing industries particularly consumer goods industries alongside structural shift in CV demand toward smaller, more agile goods vehicles rather than larger heavy trucks.
In 2015, we forecast 1.2% growth in total vehicle production, to around 6.19mn units. Sales declines in Russia, a slowdown in passenger car sales expansions in Asia, ramp ups in production at German automakers' subsidiaries located outside of Germany and rising wage costs in the country will all keep vehicle output subdued. However, widespread recovery in market growth across the EU region, depreciation in the Euro making German exports more competitive, and Germany's growing domestic market will all ensure that modest growth comes to the German vehicle manufacturing industry.
The Germany Autos Report features the latest data and forecasts covering production, sales, imports and exports.
BMI Research's Germany Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Germany.
Key Benefits
* Benchmark BMI's independent automotives industry forecasts on Germany to test other views - a key input for successful budgetary and planning in the German automotives market.
* Target business opportunities and risks in the German automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Germany.
* Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.
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Germany Autos Report Q4 2015 - New Market Research Report
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Contact Name: Bill Thompson
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Contact Phone: 1-413-485-7001
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001