FRANKFURT (MNI) – The number of new cars registered in Germany
rebounded in February to 224,000 after a sharp decline in January, the
car maker association VDIK reported on Friday.
Increasing 6.7% on the month, February’s gain was in line with last
year’s figure, resulting in a flat annual change. The 434,000 new cars
registered over the first two months of this year was also broadly
unchanged from the previous year’s level, VDIK added.
The country’s robust labour market and high expectations ahead of
upcoming wage negotiations continue to support Germans’ willingness to
spend. Households’ propensity to buy has also been supported by the
ongoing debt crisis, GfK said last month.
“Consumers’ confidence in the stability of their currency and the
financial markets has noticeably fallen in the wake of the debt crisis,”
the market research group noted. “As a result, consumers are currently
more likely to make high-value purchases rather than put their financial
resources in the bank at historically low interest rates.”
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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