FRANKFURT (Reuters) -- Germany's new-car sales will rise 6 percent in 2011, rebounding from an expected 23 percent drop this year on the back of stable economic growth, the German auto importers association (VDIK) said.
"The outlook for the economic development in the coming year points to a slow and steady recovery," VDIK President Volker Lange said in a statement on Thursday. "So I think we can expect to see 3.1 million new-car registrations in 2011 and if the economy does well we could quite easily surpass that figure."
Lange said he thought the sector would "stabilize" over the coming years but added the new-car market in Germany could not expect to see the record results achieved in recent years.
The VDIK said Europe's biggest car market was recovering as the decline caused by the end of the 5 billion euro ($6.66 billion) government-back scrapping scheme in September 2009 continued to taper off.
The German market has so far fared much worse in 2010 than the overall European market -- the industry association ACEA said earlier this week that European new-car sales were down 5.7 percent from January to November in 2010.
Sales of commercial vehicles are set to grow 6 percent in 2011 after an expected 16 percent increase in 2010, VDIK said. "I am convinced -- and the number of incoming orders supports this conviction -- that the commercial car market will pick up in 2011," Lange said on Thursday.
The positive outlook for the new-car and commercial vehicle markets in Germany in 2011 is borne out by recent macroeconomic indicators. On Tuesday the Ifo research institute raised its forecasts for economic growth this year and next and said rising domestic investment and private consumption would help drive the German economy in 2011.