FRANKFURT (MktNews) - German new car registrations are expected to reach 3.25 million in 2003, the same as in 2002, although uncertainties pose a risk to the forecast, Bernd Gottschalk, president of the German Automobile Industry Association VDA, said Thursday.
"We expect the total (of new car registrations) to be in the range of last year's -- that is, 3.25 million", Gottschalk said. However, while the possibility of the planned tax on company cars could dampen this forecast, any receding of market uncertainties of a possible war in Iraq could actually lead to a higher number of car registrations, Gottschalk added.
Gottschalk admitted that many question marks hang over 2003 but added that the forecast was more than "just an oracle from Frankfurt". Gottschalk also said he was less worried about the euro's appreciation and more by a possible war in Iraq and its consequences for oil prices and global demand.//www.marketnews.com