AFP
McLaren Mercedes' British formula one driver, Lewis Hamilton (left), with the head of luxury auto maker Daimler, Dieter Zetsche, at the Frankfurt auto show. Dieter Zetsche said that "markets are starting to show signs of recovery," and "There is a chance that the premium market will reach its 2008 level."
"The sector can look to the future with prudent optimism," Volkswagen chairman Martin Winterkorn told company staff and guests after VW sold 9.5 percent more vehicles than in August 2008 and its global market share gained 1.8 percentage points to 11.7 percent. If European markets go soft as car-scrapping premiums taper off, it is hoped that stronger economies in China, Brazil and India will help take up the slack.
"Outside Europe, things look much better," VW sales director Detlef Wittig said. Ghosn forecast that auto markets in the Middle East, Russia and the United States that saw sharp drops could now see a slight rebound.
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