LONDON (ICIS)--The German auto market remained weak in August, with new-car registrations down 20% year on year and domestic auto production down 35%, according to data from industry trade group VDA on Thursday.
Germany auto data:
|Aug 2020||+/- from Aug 2019||Jan-Aug 2020||+/- from Jan-Aug 2019|
The automotive industry is a major global consumer of petrochemicals, which make up more than one-third of the raw material cost of an average vehicle.
Several chemicals have a significant percentage of their demand tied to the global auto industry. These include nylon resins, styrene butadiene rubber (SBR), polypropylene (PP), acrylonitrile-butadiene-styrene (ABS), polymethyl methacrylate (PMMA), and polycarbonate (PC).