German automakers set for record output expect further growth in 2018

German automakers, on course for record production this year, expect further output growth in 2018 powered by strong demand in Asia, the VDA carmakers’ lobby said.

Producers including Volkswagen, Daimler and BMW may increase output “significantly” this year from 2016 levels to between 5.6-5.7 million units in Germany and about 10.8 million in the rest of the world, VDA President Matthias Wissmann said.

“The automotive sector is and will remain a growth market,” Wissmann told an industry conference on Tuesday, citing momentum in China and India.

“Current projections indicate that 2018 will also be a stable year,” he said, without being more specific.

Separately, Wissmann said he expects demand in Germany for electric cars to show “a further significant gain” over the next three years as German carmakers plan to more than triple their offerings of purely battery-powered vehicles and plug-in hybrids to nearly 100 models from about 30 at present.