German autos association sees partial sector recovery in 2023

BERLIN (Reuters) - German autos association VDA expects the global passenger car market to grow 4% this year to 74 million, it said on Wednesday, still far below the 80.9 million vehicles produced before the pandemic.

In Germany, it expects a full 20% fewer vehicles to be produced than before COVID-19, at 10.3 million from 11.4 million in 2019.

In a statement, the association warned that there could be a global shift of power if Europe did not ensure that it remained relevant through targeted industrial policy on issues like energy pricing and raw material sourcing.

"Only if we remain internationally relevant can we maintain global political weight and be an example for climate protection and values," VDA President Hildegard Mueller said in a statement.

(Reporting by Victoria Waldersee and Jan Schwartz; Editing by Miranda Murray)