German automakers expect more growth in 2018

German automakers, are on their way for record production this year, anticipate more output development in 2018 supported by strong demand in Asia, the VDA automakers’ lobby stated.

Manufacturers including Volkswagen, Daimler and BMW might increase output “significantly” this year from 2016 levels to in between 5.6-5.7 million units in Germany and about 10.8 million in the rest of the world, VDA President Matthias Wissmann stated.

“The automobile sector is and will remain a growth market,” Wissmann informed an industry conference on Tuesday, mentioning momentum in China and India.

“Current projections show that 2018 will also be a steady year,” he said.

Independently, Wissmann stated he expects demand in Germany for electric cars to reveal a further substantial gain over the next 3 years as German automakers prepare to more than triple their offerings of purely battery-powered vehicles and plug-in hybrids to almost 100 models from about 30 at present.