By Nico Schmidt
German car manufacturers aren't giving up on the European market
despite signs of a further decline in demand this year, Matthias
Wissmann, head of Germany's automobile industry association VDA,
told Dow Jones Newswires in an interview.
"Western Europe remains car country," he affirmed, despite
sluggish demand.
A proxy for sales, new car registrations in western Europe are
expected to fall to 11.5 million vehicles this year, a drop of 3%,
Mr. Wissmann said, after an 8.1% slump in the region in 2012.
"But it would be a mistake to assume a linear expansion of this
tendency," Mr. Wissmann said, noting he expects pent-up demand in
countries that are suffering now from the financial crisis.
Industry events, such as the Geneva Auto Show beginning this
week, are all the more important during times of market duress, he
added.
Turning to ways to boost the market, Mr. Wissmann said he fully
advocates a free-trade agreement between Europe and the U.S.
"Such an agreement would bring 1.5% growth to both sides of the
Atlantic," he added.
In times of increasingly protectionist tendencies, the deal
would be a tribute to open markets, Mr. Wissmann said.
A full German version of the interview is available on
www.wallstreetjournal.de
Write to Nico Schmidt at nico.schmidt@dowjones.com