VDA: Auto Industry Not Affected By Downturn; Confirms 2011 View
02 September 2011 - 10:39PM
Dow Jones News
German automotive industry association VDA confirmed its 2011
outlook Friday, saying the economic downturn hasn't yet affected
the industry.
The country's new car registrations in August rose 18% from a
year earlier to 237,7000, while car exports of German brands
increased 17% to 299,400, VDA said.
VDA President Matthias Wissmann said that was a record export
volume. Domestic car production increased nearly 20% to 399,000,
also a record, he said.
Wissmann said he expects the positive trend to weaken in the
coming months because of the general economic slowdown. "Of course,
now that the recovery process has reached its current stage, growth
is going to slow," he said.
Nevertheless, the outlook for 2011 remains positive. The
association still expects more than 3.1 million new car
registrations in Germany this year, exports of over 4.5 million
cars and more than 5.9 millions cars to be produced in the
country.
By Nico Schmidt, Dow Jones Newswires, +49 - (0)69 297 25 114;
nico.schmidt@dowjones.com
Porsche Automobile (PK) (USOTC:POAHY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Porsche Automobile (PK) (USOTC:POAHY)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Porsche Automobile Holding SE (PK) (OTCMarkets): 0 recent articles
More Porsche Automobil Holding SE ADS News Articles