Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Germany’s auto production in May stood at 151,500 units, down by 66pc from the year prior according to the German Association of Automotive Industry (VDA). Compared to April, however, production increased by 13-fold.


In April, 11,287 units were produced, a decline of 97pc from the year prior as COVID-19 lockdown forced auto manufacturing units to shut down across the country. Towards the end of April and in May, several auto manufacturers had resumed operations.


Passenger cars produced in May were 105,100 units, down by 67pc from the year prior. Meanwhile, in April, car production collapsed by 92pc to 22,680 units from the year prior. Passenger car production in Jan-May declined by 44pc to 1,182,200 units compared to the prior-year period.  


New passenger car registrations fell by 49pc in May to 168,148 units. In Jan-May, sales fell by 35pc to 990,400 units. Car exports declined by 67pc to 105,100 units. Commercial vehicles sales fell by 48pc in May to 20,620 units from May 2019.


Europe’s auto sector is witnessing a slump for over a year. Adding to the woes of automakers’ COVID-19 pandemic has further slowed the recovery of the sector. Germany’s Ministry of Economics was expected to announce a €75-80bn ($85bn) stimulus package aimed to boost economic recovery post COVID-19 of which €5bn will be directed towards the auto sector.


($1= €0.88)

Leave a Reply

Your email address will not be published.