Germany Autos Q1 2020
We forecast new vehicle sales in Germany to grow by 1.4% in 2020 after an estimated 3.0% growth in 2019. Growth invehicle sales will be weighed down by the weaker economic growth outlook, the EU-US trade tensions, Brexit uncertainty, as well asthe new emission testing procedure for commercial vehicles. We reiterate our bearish outlook for the German automotive industryin 2020 as softer demand in key export markets will limit vehicle output. We highlight the electric vehicle segment as a bright spot inGermany as the government and automakers commit to fleet decarbonisation.
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