21/10/2014 20:10:17 Free Membership Login

Germany's VDA Sees 2012 Global Truck Market Up 5%

Date : 06/22/2012 @ 4:17AM
Source : Dow Jones News
Stock : BMW - Bay.Motoren Werke AG St (BMW)
Quote : 81.55  1.97 (2.48%) @ 11:30AM
BMW share price Chart

Germany's VDA Sees 2012 Global Truck Market Up 5%

BMW (XE:519000)
Historical Stock Chart

3 Years : From Oct 2011 to Oct 2014

Click Here for more BMW Charts.

FRANKFURT--German car manufacturers' association VDA expects global truck market growth of 5% this year, driven by demand in the U.S., Russia, Japan and India, VDA President Matthias Wissmann said Friday at an event ahead of the IAA commercial vehicle fair later this year.

Growth in U.S. truck demand is likely to be around 20%, Wissmann said. The market outlook for Europe this year is less fortunate, demand is likely to fall between 2% and 4%, he added.

"The sooner financial markets are stabilized, the sooner the commercial vehicle market will regain momentum," he said.

Weaker economic growth in boom-markets such as China and Brazil will take a toll on truck markets, and Chinese demand is likely to fall around 3% this year, he said.

Globally, Wissmann expects new truck registrations to reach 3.27 million vehicles.

For 2013, Wissmann noted strong fundamentals for the transportation market, and said momentum is likely to increase if Europe resolves the debt crisis.

The IAA trade fair will take place in Hanover, beginning Sept. 20.

-Write to Nico Schmidt at nico.schmidt@dowjones.com



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 us 141021 20:10