German car market to grow 7% in 2022, still below pre-pandemic – VDA

BERLIN, Feb 9 (Reuters) – Germany’s car market will grow 7% in 2022 to 2.8 million new vehicles, national auto association VDA predicted on Wednesday, an improvement on last year’s historic lows but still below pre-pandemic levels.

Globally, the association expects 4% growth in the market this year, with a 5% increase in Europe where recovery from the pandemic has been slower than the United States or China, it said.

Last year saw the lowest number of cars registered since German reunification, at 2.6 million, 10% below the already weakened 2020 figures.

Germany must now prioritise creating the infrastructure necessary to support a growing number of electric cars on roads, the association said, from boosting semiconductor production to building more charging stations.

(Reporting by Victoria Waldersee, Jan Schwartz; Editing by Riham Alkousaa and Maria Sheahan)

Photo – A view of the production of different sports cars at an assembly line at the German car manufacturer Porsche in Stuttgart, Germany. EPA-EFE/RONALD WITTEK