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Berlin (Reuters) – German automakers are spreading their confidence despite the diesel scandal and the trade dispute with the United States.
"Despite the economic and political uncertainties, the German auto industry is strong," said Tuesday the boss of the VDA Association, Bernhard Mattes, in Berlin. For the Federal Republic of the Association was more optimistic than in December last year: after a strong first half of the new VDA predicts the VDA of one percent to about 3.5 million cars – last December there still had 3.4 million cars planned. But the internal market is not progressing as fast as in the past. In 2017, according to the Kraftfahrt-Bundesamt, the figure was still 3%
The VDA also anticipates a plus for the global production of German car manufacturers: in 2018, this figure will increase by 1% to reach a new record of 16 , 7 million units. grow. The automotive industry will continue to rely heavily on exports. For vehicles made in Germany, the export rate is 76%. But every second car produced by German manufacturers in the United States is also exported. The badociation is therefore concerned about the trade dispute initiated by US President Donald Trump. If Trump threatens unilateral US tariff increases on cars coming from Europe, "there must also be a backlash," Mattes said. He thinks it's true. The unity of the EU is important and its industry does not suggest any unilateral concession.
Trump threatened all European cars with a 20% import duty. He had also repeatedly placed German car manufacturers at the center of his criticism. Daimler is already expecting a decline in profits caused by the US-led global trade conflict.
Regarding the diesel scandal, Mattes admitted that the key German industry had lost its credibility. "We want to clean up, and that's what we do in homes," he said. The industry is working to gain new trust. "It means we do what we say, that reliability and transparency determine our actions." The debate over possible bans on diesel vehicles in German city centers has left its mark on the market. "The proportion of diesel used in new pbadenger car registrations in Germany has fallen to just under a third in the first half of the year." However, modern diesel engines are not part of the problem but part of the solution.
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