Germany’s VDA Sees 2012 Global Truck Market Up 5%

German car association of manufacturers VDA is expecting global truck growth of market of about five percent for this year, driven by the demand in U.S.A., Japan, Russia, & India. This was said by Matthias Wissmann, the VDA President on this Friday @ event ahead of IAA commercial automobiles fair later in this year.

The growth for demand U.S.A trucks is very likely to be about 20%, says Wissmann. Market out look in Europe for this year is a bit less fortunate, as demand is will fall some where between 2 percent and 4 percent, he says. He also said that the market of commercial vehicles will regain the momentum are the financial markets get stabilized.

Weaker growth of economy for boom-markets like Brazil and China will be taking toll on the truck markets, & demand from Chinese will fall by around 3 percent in this year, he says.

Globally speaking, Wissmann is expecting the registrations of new truck to reach around 3.27 million automobiles. For the year 2013, Wissmann had noted very strong fundamentals for market of transportation, & had said that the momentum will increase if Europe does resolve the crisis of debt. Trade fair of IAA will by taking place at Hanover, starting from September 20.