Boston, MA -- (SBWIRE) -- 03/26/2014 -- In 2013, vehicle sales in Germany declined 4% on the back of a 4.2% drop in the passenger car segment and a 2.2% fall in the commercial vehicle (CV) segment. In 2014, we expect to see a return to growth in the industry, with total vehicle sales forecasted to increase 1% over the year. This comes from an expected 0.6% increase in passenger car sales and a 5.3% increase in the CV segment.
The German passenger car market remains below its 2009 peak of some 3.8mn units, following the general decline in sales volumes in recent years. These delayed purchasing decisions have created some pent-up demand in the market. This, combined with the steadily improving consumer dynamics, has informed our forecast for a 0.6% increase in passenger car sales in 2014.
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In 2013, vehicle production in Germany increased 1.2% on the back of a 1.1% increase in the passenger car segment and 2.3% raise in CV output. In 2014, we forecast a 2.2% increase as passenger car output is expected to increase 2% and CV output increase 4.3%.
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