VDA predicts Germany’s new-car market to grow by end of 2010

Article by Christian A., on October 4, 2010

In September, new car registrations in Germany dropped at a significantly slower rate than in August – a trend that supports the VDA industry body’s belief that the German car market will return to growth towards the end of 2010. September’s new car registrations dropped by 17.8% to 259,748 vehicles.

Meanwhile, August’s new car registrations fell by 27% due to a high comparison with August 2009 that was distorted by the scrapping scheme. Last Monday, VDA President Matthias Wissmann said that the trend has changed with the coming in of new orders from domestic customers and that bookings increased by over 10%.

Wissman expects to see “rising registration figures in the domestic market” by the end of the year. According to Barclays Capital economist Julian Callow, the new-car demand is “encouraging” and may boost his estimate of a 0.3% rise in German private consumption in the third quarter over the second quarter.

In a note on Monday, Callow said that Germany is the only country among the Big Four (which also includes France, Italy and Spain) to have an increase in car sales in Q3 (2.88 million) compared to Q2 (2.78 million).

He pointed out that this 3.4% quarter-on-quarter rise in Q3 is the “first positive quarterly growth reading since Q2 2009." Even with a 5% increase in exports, the demand for cars in Germany remained very weak last month and caused production to fall 3% to 534,700 vehicles. [via autonews - sub. required]

Topics: germany, sales

If you liked the article, share on:

Comments

Recommended

Like it or not, Chevrolet may soon be offering a cheaper Camaro in hopes of competing with Dodge Challenger and Ford Mustang GT. Apart from the less expensive trim, the...
by - August 17, 2017
Recently, Porsche revealed a new Macan Turbo wearing a Performance Package and a unique Porsche Motorsport themed paint. At first look, it will remind you of the 919 Hybrid and...
by - August 17, 2017
The BMW M1 will be one of the most exclusive cars that will be showcased at the upcoming 2017 Pebble Beach Concours d'Elegance, alongside many other extravagant models. Firstly, there...
by - August 17, 2017
Aston Martin Vanquish Zagato makes its debut with a total of four variations including the Speedster and the Shooting Brake trims. As part of the limited edition model, the company...
by - August 17, 2017
Mitsubishi finally introduces the new Xpander MPV at the 2017 Indonesia International Auto Show in Jakarta Indonesia. Replacing the previous Expander, the new multipurpose vehicle will be mostly sold at...
by - August 16, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries