The new F1 supremo told German news agency DPA that the German market is important for the sport.
"Last year, a German driver won in a German car, so it's a very important market," the American said.
"It is certainly one of our goals to be represented in the German market. We are just about to investigate how best to manage this.
"We don't have any answers yet. I have already met with some German representatives, and naturally we are talking about the two race tracks that have held the German Grand Prix in the past.
"But we are also looking at other options. Ultimately, however, it is too early to make concrete statements."
Carey said that another priority for Liberty Media is a second American race, to complement the existing US Grand Prix.
"We have a great partnership with the circuit in Austin," he said, "but we believe we can add a race in a 'destination city', as I call it. I'm talking about New York, Miami, Los Angeles or Las Vegas.
"These are cities that are best suited to create a one-week event and attract people from all over the world. The race will remain the centre of the event, but overall it will be more than just a Formula 1 weekend."
The German Grand Prix is missing from this year's calendar, while the 2017 US Grand Prix will take place on October 22.