–Adds Export, Production Figures Provided By VDA
FRANKFURT (MNI) – German new car registrations fell for the second
consecutive month in January, but were only slightly below the very high
level a year earlier, the car maker association VDIK reported on
Thursday.
After a 9.4% downturn in December, registrations fell 13.9% in
January to 210,000 — just 700 fewer than a year ago.
Registrations for diesel motor cars alone, accounting for just over
half the total, were 6.5% higher on the year, bolstered by commercial
demand.
“I’m happy to see an increase in commercial demand in January
following the good year in 2011,” VDIK President Volker Lange said in a
press release. “I am sure that it will remain high in the coming months
and help to stabilize the car market ahead,” he added.
Some 3.17 million new cars were registered in Germany in 2011, up
9% compared to 2010, VDIK reported.
Broadly confirming VDIK’s figures, automobile industry association
VDA reported that exports in January increased by 4% on the year to
324,800 cars, while production gained 12% over the same period to
444,900 cars.
Further positive developments in unemployment, falling jobless
fears and weakening inflation have only added to Germans’ willingness to
reach into their wallets for more than just the essentials, the GfK
Group reported this month.
The ongoing debt crisis has also fueled consumers’ propensity to
spend, GfK added. “Given the lack of trust Germans have in financial
markets and historically low interest rates, consumers seem to be more
inclined to make high value purchases rather than saving their money.”
Supporting this assessment, a recent European Commission survey
showed the proportion of consumers in 4Q looking to buy a car in the
next year rising to its highest since early 2006.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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