Ger­man car sales re­bound in Nov

Kuwait Times - - BUSINESS -

Ger­man car sales rose in Novem­ber, re­cov­er­ing from an ear­lier dip and set­ting the stage for a strong end to the year, of­fi­cial data showed yes­ter­day.

A to­tal of 276,567 new cars were reg­is­tered last month, up 1.5 per­cent on the same month last year, ac­cord­ing to the KBA trans­port au­thor­ity. The uptick is wel­come news for the in­dus­try af­ter fewer sell­ing days in Oc­to­ber saw car reg­is­tra­tions, seen as a key in­di­ca­tor of de­mand in Europe’s top econ­omy, plunge by 5.6 per­cent. The VDA car­mak­ers’ fed­er­a­tion sep­a­rately said that for the whole of 2016 it ex­pected car sales to grow by five per­cent to nearly 3.4 mil­lion ve­hi­cles, “the high­est level since the start of the decade”, pres­i­dent Matthias Wiss­mann said in a state­ment.

Sales were boosted by Ger­many’s ro­bust econ­omy, he said, with low un­em­ploy­ment and high wages push­ing up de­mand, while con­sumers also took ad­van­tage of cheap fi­nanc­ing op­tions.

“This is a good year for the au­to­mo­bile in­dus­try,” Wiss­mann said.

The VDA ex­pects “sim­i­larly high” sales in 2017, he added. De­spite the diesel­gate scan­dal, mar­ket leader Volk­swa­gen man­aged to re­tain nearly 20 per­cent of the Ger­man car mar­ket be­tween Jan­uary and Novem­ber, though sales were down 3.4 per­cent com­pared to a year ear­lier, the KBA said. — AFP

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