German auto body optimistic about truck, van market

BERLIN (Reuters) – Germany’s VDA automotive association is optimistic about the outlook for global sales of trucks and vans, with the booming online retail sector in western Europe boosting demand even as the sector faces growing trade barriers.

It said sales of heavy-duty trucks in western European rose by 2 percent in January-July, and forecast a 2 percent increase in sales of light-duty trucks for the whole of 2018 to almost 2 million vehicles.

“The international market for commercial vehicles finds itself in good shape for this year’s IAA,” VDA President Bernhard Mattes said at a news conference at the bi-annual truck fair in Hanover, Germany on Tuesday, according to a prepared speech text.

“But we can’t ignore the political risks that we see around the world. Especially in the transport sector where international supply chains are closely intertwined, trends towards more protectionism, tariffs and trade barriers benefit no one.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.