FRANKFURT (MNI) – German new passenger car registrations fell 9.2%
in December to 244,501, but were still more than 6% higher than a year
earlier, the industry association VDIK and the Federal Motor Vehicle
Office said Tuesday.
For the full year, registrations were up approximately 9% to 3.17
million, supporting the view that despite the debt crisis, Germans
remain in a spending mood and in the market for big-ticket items.
“Registrations of international brands were particularly
successful,” said VDIK head Volker Lange in a press release, noting the
strong gain in sales (+7%) and market share of VDIK member brands
compared to the growth of the overall market (+3%).
“For 2012, VDIK expects the passenger car market to stabilize,”
Lange added.
With interest rates at record lows and a labour market that still
appears immune to the debt crisis and global slowdown, car sales are
likely to continue rising.
German consumers polled by the market research group GfK last month
said they were more likely to put their money into cars and other
high-value items rather than into savings.
A European Commission survey showed that households’ plans to make
major purchases over the upcoming 12 months recovered modestly in
November to almost six points above the long-term average.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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