Germany’s new car registrations fell 3% in July after adjustments for fewer shopping days, industry association VDA reportedly said, underscoring the persistent weakness in Europe’s biggest car market.
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According to Reuters, registrations dropped to 267,000 vehicles, for a decline of 7% without taking into account the smaller number of shopping days.
In the first seven months of this year, registrations dipped 2% to 1.9 million despite the launch of new models and buyer incentives, the group reportedly said.
“This clearly reflects the high oil price and weak consumption due to the continuing uncertainty on the part of buyers,” VDA said, according to Reuters.
Exports in July also reportedly fell 7% to 298,200 cars, while passenger car production fell 10% to 400,400 units.
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