German car market expected to grow 7% in 2022, still below pre-pandemic levels -VDA, Auto News, ET Auto

Last year saw the lowest number of cars registered in Germany since the country’s reunification at 2.6 million, down 10% from already low figures in 2020.

BERLIN:

The German car market is expected to grow 7% in 2022 to 2.8 million new vehicles, the national auto association VDA said on Wednesday, an improvement from last year’s historic lows but still below current levels. before the pandemic.

Overall, the association expects the market to grow by 4% this year, with a 5% increase in Europe where the recovery from the pandemic has been slower than in the United States or China, it said. she declared.

Last year saw the lowest number of cars registered in Germany since the country’s reunification at 2.6 million, down 10% from already low figures in 2020.

Germany must now prioritize creating the infrastructure needed to support growing numbers of electric cars on its roads, the association said, from boosting semiconductor production to building new charging stations.

“The focus is now on the infrastructure and the framework conditions. These are the decisive factors for the industry to turn around the agreed targets,” VDA President Hildegard Mueller said in a statement.

Germany was far behind its targets for building charging infrastructure, the group warned. At the current rate, just 160,000 charging stations would be installed by 2030, a fraction of the country’s stated goal of one million.

It must also form partnerships with power generators and raw material producers in other countries to produce enough clean energy to power electric vehicles, the VDA said, predicting that domestic renewable energy production would not be sufficient.

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New car registrations rose 8.5% in January in Europe’s biggest economy, the federal transport agency said in a statement.

James R. Rhodes