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U.S.-China trade conflict hurting German car sector: VDA

Reuters  |  FRANKFURT/BERLIN 

FRANKFURT/(Reuters) - A trade spat between the and is leaving its mark on Germany's automotive sector with the number of new vehicles in the Chinese market expected to fall this year, the industry association said on Wednesday.

is the most important and historically the fastest growing market for Germany's carmakers but Chinese tariffs on German cars built in the have taken their toll.

"is currently taking a breather", said in Berlin, adding the export of German cars from factories in the to China fell by a third in the first 10 months of the year.

The said it expected the number of new vehicles in China to decline by 1 percent this year to 23.9 million. It forecast growth in 2019 of 2 percent to 24.4 million.

The association said it expected the global to reach 85 million new vehicles this year. In Europe, it expected the number of new vehicles to climb to 15.8 million in 2018 and remain at a similar level in 2019.

Sales of new cars in will decline by 1 percent this year, it added.

Separately, the German auto importers association also forecast slightly weaker sales in this year and said sales would probably remain at 2018 levels next year.

Some 3.42 million cars will probably be registered in 2018, the said, adding that this showed the new was performing well. members expect sales to rise by 1 percent to 1.325 million vehicles this year.

(Reporting by and Markus Wacket; Writing by and Caroline Copley; Editing by and Jon Boyle)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 05 2018. 17:00 IST
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