Truck sales set for a slow down: German industry association

Sales of the commercial vehicle for western Europe are now set to go down for this year as euro zone crisis of debt crimps the demand, says VDA industry association on Germany. Matthias Wissmann, the president of VDA said that the conditions now got rough for this year. Over this year, they are expecting some new registrations for the heavy duty trucks for Western Europe for totaling somewhere around 256k and 250k units. This would be drop of around two to four percent as compared to that of the last year says Wissmann.

Countries that are hit the hardest by this crisis are Greece, Italy, Spain, & Portugal and they accounted for around 15% of the total sales in this region, he said. Nevertheless,”sooner finance markets get stabilized, faster the markets of commercial vehicle will be regaining more of dynamism,” says Wissmann.

In the other regions, picture was a bit more positive, says VDA. Wissmann said that market of global trucks for the vehicles for more than 6 tonnes will now continue for expanding in the year 2012, climbing by about 5 percent to about 3.27 million units. US market was especially dynamic & was set in growing by about 20 percent to about 366,000 vehicles in the year 2012.

Wissmann said that it benefits in some of brands of German group, which have market share of about 30 per cent. Japanese, Russian, & Indian markets too were continuing for expansion. While following introduction of new standard of exhaust, Brazil saw temporary fall in the figures, for medium term, and still had some growth potential.

China, is the world’s biggest market of commercial vehicles having over 1 million units and Wissmann said that it was having break from the expansion in this year along with some drop of 3 percent. However, in medium term, the growth for China will go on, he says. It will be interesting to see how things fold up in the future. There will be growth but when things will get real isn’t known. Asia promises a lot of things when it comes to automobiles and there are a lot of expectations from this region too. Apart from that, the sales of trucks for Europe will be going up very soon.