Driven by strong demand in Asia and abroad, the internal automotive production of Germany jumped 14%, to 515,200 vehicles in September, according to the country’s auto industry association VDA.
Automobile production is a major contributor to industrial production, a key driver of the export-reliant German economy, and helps secure hundreds of thousands of domestic jobs. So, it’s a good indicator for the overall health off the country’s economy – and Germany is doing quite well in this case.
Also, the September local sales almost halted their decline, falling just 1.2% in September, renewing hopes that what’s worst has finally coming to an end for the ailing European market – Germany being its strongest market and a very good indicator.
“Our companies are currently profiting from their presence in (foreign) growth centers and the apparent stabilization in the west European market,” said VDA President Matthias Wissmann in a statement.
The strong growth in production, driven by a 15 percent increase in exports to 389,000 cars, meant that output in the first three quarters of 2013 returned to the 4.1 million-vehicle level from the year-ago period.
) - Thursday, October 3rd, 2013 - filed under Industry
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