German car sales buck European slowdown 6th October 2011
Sales of new cars in Germany surged by over eight per cent in September against a backdrop of falling consumer confidence in other major European economies.
In the first nine months of 2011, auto sales are up nearly 11 per cent compared to a year ago, with demand coming for larger vehicles including vans, sports utility vehicles and luxury saloons.
The positive figures are the result of a five per cent increase in private registrations and a 15 per cent rise in commercial registrations, German auto importers association VDIK said.
By contrast, sales in the rest of Europe slipped in September, with France, Italy and Spain all reporting declines in new registrations.
In Italy, sales fell 5.7 per cent to a 15-year low, while Spain recorded a 1.3 per cent drop.
Compared with 2010, sales of new cars in Spain in the first nine months of this year are down by over a fifth.
In France, new registrations slipped by 1.4 per cent in September, but remain marginally up in the nine months to the end of that month.
Germany's automotive industry group VDA also said that exports climbed by six per cent in September.
Source:
UPDATE 2-German new car market grows by 8.1 pct in Sept (05/10/11)
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