The chairman of the German Automobile Industry Association believes that although not yet returning to pre-crisis levels, commercial vehicles in Europe have already emerged from the bottom of the financial crisis.
On the margin of the 63rd IAA commercial vehicle exhibition held in Hannover, Germany on September 21st, local time, Matthias Wissmann, chairman of the German Automobile Industry Association (VDA), was accepting a new financial journalist. In an interview with a Chinese media reporter, he made the above statement.
He believes that although the five-year growth period before 2008 will have passed, the growth of commercial vehicles is still expected. Since most commercial vehicles are ordered, the financial crisis has a lagging effect on commercial vehicle companies. When the financial crisis began in 2008, it was the best time for commercial vehicles to develop in the past few years.
Wessman stated that by February 2009, the market had started to be "troubled" and it was not until the end of 2009 that signs of growth began. However, this year's situation shows that although the European commercial vehicle has not returned to the pre-crisis level, it has also come out of the trough.
Europe has three global commercial vehicle groups, namely Mercedes-Benz Group, Volvo Group and MAN Group. MAN Group CEO said in an interview with Chinese media reporters that the number of orders for the MAN Group increased by more than 70% this year, and the market has seen a pick-up.
In an interview with Caixin reporter in May this year, Leif Johansson, president and CEO of Volvo Group, also stated that this year's Volvo Group's orders have seen "double-digit" growth, and production has expanded by 20%. . The first quarter financial report showed that the Volvo Group achieved operating profit of 2.799 billion Swedish kronor, which was the first profit in six months.
Prior to serving as Chairman of the VDA, Matthias Wissman served as German Minister of Transport. The German Automobile Industry Association is the organiser of the IAA and hosts the once-a-year Hannover Commercial Vehicle Show.
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