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July 7, 2021

German automakers cut 2021 growth forecast

German trade group cuts forecast for growth this year.

By Graeme Roberts

Germany’s automotive industry association on Wednesday cut its growth forecast for 2021 car sales to 3% from 8%, citing production hurdles posed by semiconductor shortages, Reuters reported.

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The Association of German Automobile Manufacturers (VDA) now expects car sales in Germany to reach 3.15m units this year. It had slashed its production forecast on Tuesday.

Presenting the figures at its summer news conference, VDA warned against a possible European Union de facto ban on combustion engines from 2035 and called for more investment in charging stations for electric cars in the bloc.

According to the report, VDA said a ban on internal combustion engines would take a toll on jobs, innovation and consumers’ freedom.

“People don’t want bans, they want offers: innovative, attractive, networked,” VDA said in a statement cited by Reuters.

Frankfurter Allgemeine Zeitung reported on Tuesday the European Commission was drafting a law, to be proposed next week, to reduce allocations for CO2 rights to zero by 2035 “at the earliest”.

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How is Toyota ensuring its future success?

Toyota is accelerating digital growth and serving their clients better. The company is investing in emerging technologies to maintain its segment operations, drive site traffic and revive its business prospects amid COVID-19.  Toyota AI Ventures along with Toyota Research Institute (TRI) launched the Call for Innovation initiative to promote innovation around robotics technology. It made a significant amount of investment in startups working on mobile technologies for assistive robots.  Our Enterprise Tech Ecosystem report on Toyota provides you with information and insights into their digital transformation strategies, including: 
  • Overview of technology initiatives covering partnerships, product launches and investments 
  • Insights into its accelerator & innovation programs 
  • Details of estimated ICT budgets and major ICT contracts 
  • Partnership network map 
Download the full report to align your strategies for success and get ahead of the competition. 
by GlobalData
Enter your details here to receive your free Report.

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