German car exports rise as US threatens steep new tariffs

The German auto industry exported more vehicles in 2024 than the year before, most of them to the United States, where President Donald Trump is threatening to impose new tariffs.

Last year, Germany exported around 3.4 million new cars worldwide, worth 135 billion euros ($146 billion), according to official data from the Federal Statistical Office, foreign media write, reports Telegraph.

And exports grew by 2.5% in volume compared to a year earlier, although the value of exports fell slightly by 1.3%.

The US was the largest recipient of all new car exports with a 13.1% share, followed by Britain (11.3%) and France (7.4%).

Meanwhile, Germany imported around 1.8 million new cars in 2024, a decline of 11.5% in volume and 12.8% in value.

The data comes after Trump threatened to impose a 25% tariff on cars imported from the European Union.

Until now, car imports from the EU to the US have been subject to a 2.5% tariff.

Thus, US tariffs would hit the car industry in Europe hard, especially German manufacturers.

The US market is one of the most important sales markets for all German carmakers. Almost one in three Porsches and one in six BMWs were sold in North America in 2024, while Volkswagen, Audi and Mercedes-Benz each reported a share of 12% to 15%. /Telegraph/