DETROIT (Reuters) – German automakers expect to continue to grow market share in the United States this year thanks to a raft of new models, even as demand in the world’s second largest car market is seen falling again slightly, Germany’s VDA industry lobby said.
Manufacturers including Volkswagen (VOWG_p.DE), Daimler (DAIGn.DE) and BMW (BMWG.DE) raised their combined share of the U.S. auto market to 7.9 percent of industry-wide sales last year from 7.6 percent in 2016.
That was even as registrations of passenger-cars and light commercial vehicles in the U.S. fell 2 percent to about 17.1 million units, the VDA German auto industry association said on Monday at the Detroit auto show.
“I expect that we will be able to grow our market share further in 2018 because the German manufacturers are continuing their model offensive,” VDA president Matthias Wissmann said at a press conference.
VDA expects overall registrations of U.S. passenger cars and light commercial vehicles to drop slightly below 17 million units this year, Wissmann said, without being more specific.
Reporting by Andreas Cremer; Editing by Ludwig Burger