acf domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/ecg/ecgassociationdev/wp-includes/functions.php on line 6121Reuters — 2022-09-02
Automotive Industry
German autos association VDA dampened its forecast for the passenger car market in the United States and Europe on Thursday, citing inflation, interest rates and ongoing supply chain troubles.
It adjusted its forecast for passenger car deliveries in the US to predict a 7% drop IN 2022, from a previous forecast of a 1% drop.
In Europe, it said it expected deliveries to fall 4%, from a previous forecast of no change.
In China, by contrast, where the recovery from pandemic-related lockdowns was progressing faster than expected, it forecast 9% growth compared with a previous forecast of 3%.
Globally, the association continues to expect no change from last year's deliveries, which totalled 71.4m vehicles - still 9.2m below the industry's output in 2019 before the pandemic.