U.s. Market: german carmakers still on the upswing
"In the current year, the speed of the US market will be reduced somewhat, but north america remains on course for growth." While sales in europe have been stalling, the u.S. Market has been allowed to stay in the auind. The german association of the automotive industry (VDA) expects sales to grow from 14.4 million vehicles last year to more than 15 million this year – and that german brands will benefit more than average from this growth.
"In view of the model offensive that our member companies are showing in detroit, there is every reason to believe that we will continue to grow for the eighth year in a row," said wissmann. "It's the german manufacturers who are leading the way here in detroit in terms of premium and efficiency."
This is another reason why BMW, VW or daimler should be able to further increase their market share from the current 8.8 percent, wissmann hopes: "i already believe that we will again see double-digit growth across all brands."Since 2005, when german manufacturers had a 5.1 percent share of the market, sales have risen steadily each year.
Wissmann sees room for improvement, for example, in hybrid vehicles. "The latest development gives us great confidence: the german brands have recently introduced numerous hybrid models to the u.S. Market, and these are now gradually taking effect."
Last year, german manufacturers increased their sales in the u.S. By 21 percent to around 1.27 million, selling more cars there than ever before. The overall market grew by 13 percent to more than 14.4 million cars. "2012 was the most successful year ever for our manufacturers on the u.S. Market," said wissmann.
The VDA also sees potential for the north american market in the medium and long term: "on average, u.S. Citizens are 37 years old and therefore much younger than the german population, which is 45," said wissmann. Unlike in germany, the population is growing, and the cars on U.S. Roads are old and will have to be replaced in the coming years. The record figure of up to 17 million new cars sold at the turn of the millennium remains out of reach for the time being. But wissmann is convinced: "the fascination of the car is alive and kicking in the U.S. Again."
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