German Car Sales Stabilise After September Dip

10 October 2001

Although fallout from last month’s attacks on America dented demand for German cars, the long-term outlook should not be affected, says German car industry federation VDA.

After August saw the first year-on-year increase in new car registrations in 2001 [WAMN: 11-Sep-01], September’s total stood at 264,000, a fall of 2% from twelve months before. Overseas orders dropped 2% from August, while domestic orders tumbled 10%.

However, the VDA stressed that demand was recovering by the end of September. “After a phase of restraint on consumers’ part, confidence is now discernibly growing,” it said. The VDA is sticking to its forecasts of 3.3 million new car registrations this year. Around 2.6m were registered in the first nine months.

News source: Handelsblatt (Germany)