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German passenger car market up by 2pct in July

Steel News - Published on Thu, 08 Aug 2013

According to the data released by the German Association of the Automotive Industry, in July 2013, new passenger car registrations in the German market grew by 2% YoY to 253,150 units, marking just the second YoY rise this year following the growth recorded in April, and were down 10.5% compared to June.

However, in the first seven months of this year Germany\'s new car registrations fell 7% YoY, totaling 1,755,800 units.

Mr Matthias Wissmann president of the VDA said that \"The German passenger car market is not out of the woods yet. But July saw a good start to the stabilization we expected in the second half year.\"

However, during July 2013, a total of 356,600 passenger cars were exported, down one percent compared to July 2012 and up 0.7% MoM. In the first seven months of the year, German passenger car exports amounted to 2,442,600 units, decreasing 3% compared to the same period last year.

Mr Wissmann said that \"Exports should pick up again in the coming months, and with them production in Germany.\"

According to the VDA, in July 445,300 passenger cars rolled off production lines, which represents a YoY drop of 3% and a 6.5% decrease from June.

Source - Visit www.steelorbis.com for more

(www.steelguru.com)

Posted By : admin on Thu, 08 Aug 2013
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