The Registrations of flex-fuel vehicles in Germany attained a value of 232 Units in 2020
The indicator recorded a historical decline (CAGR) of 20% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to decline at a CAGR of...
Automotive industry in Germany
The German new cars market experienced strong value and volume growth in 2019, before suffering a steep decline the following year. The market is expected to recover and achieve very strong growth in 2021, with moderate growth rates expected over the remainder of the forecast period. A positive macroeconomic environment that kept consumer confidence high, along with the low cost of car loans, stimulated demand for new vehicles and the replacement of existing old vehicles during 2018 and 2019.
The German car manufacturing industry, which is the largest in Europe, declined in both value and volume terms over the historic period. The industry suffered a particularly steep decline in 2020 amid the COVID-19 pandemic. The industry looks set to recover in the forecast period.
Before the COVID-19 pandemic, the semiconductor industry was beginning to reckon with a raw material shortage. This meant that whatever capacity that was available before the pandemic was already under strain, leaving limited excess capacity to deal with surges in demand. At the onset of the pandemic, when automotive production was shut down, chip suppliers pivoted to prioritize the supply of consumer electronics where demand remained stable, or increased, due to lockdowns and the requirement to work from home. With the automotive sector ramping up production once again, it has found itself at the back of the queue for chips.
As technology improves the efficiency and price competitiveness of electric cars, demand for these vehicles will undoubtedly increase. Several major global car manufacturers such as Volvo, GM, Aston Martin, and Jaguar Land Rover have announced plans to switch over to manufacturing only electric or hybrid cars at some point within the coming decade.
The manufacturing stage requires in-depth knowledge and precise technology in order to ensure the end product is both safe and functional. The main body is assembled before the mechanical and electrical components are added; each car must then go through testing before the finishing touches can be added. Margins have been affected by globally fluctuating raw material prices, such as steel and aluminium, during recent years. In order to minimize operating costs and distinguish themselves from rivals, suppliers can make changes which decrease margins and increase turnover, while improving customer service.
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