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POAHY Porsche Automobile Holding SE (PK)

4.70
0.01 (0.21%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Porsche Automobile Holding SE (PK) USOTC:POAHY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.01 0.21% 4.70 4.65 4.75 4.71 4.67 4.69 418,270 21:20:00

German Auto Association Confirms 2011 Outlook, Sees 2012 Slowdown

02/12/2011 11:54am

Dow Jones News


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German automotive industry association VDA on Friday confirmed its 2011 outlook for new car registrations in Germany, but said it expects a slight slowdown in 2012, if uncertainties in the financial markets persist.

The country's new car registrations in November rose 3% from a year earlier to 269,300, while car exports of German brands increased 7% to 426,800, VDA said. Domestic car production increased 7% to 555,700.

"2011 is a strong year for the auto market. We expect new record highs in exports, production and sales," VDA President Matthias Wissmann said in a statement.

For 2011, the association continues to expect new car registrations in Germany to rise about 8% to over 3.1 million and exports to rise 7% to over 4.5 million cars. It also expects more than 5.9 millions cars to be produced in the country.

-By Neetha Mahadevan, Dow Jones Newswires; +49 69 2972 5507; neetha.mahadevan@dowjones.com

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