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August 5, 2014

GERMANY: Car sales rise 6.8% in July

Germany's car sales reportedly rebounded in July as registrations rose 6.8% to 270,249 cars, boosted by premium models and SUVs.

Germany’s car sales reportedly rebounded in July as registrations rose 6.8% to 270,249 cars, boosted by premium models and SUVs.

The increase, the highest since January’s 7.2% gain, extended the rise in deliveries in Germany in the year to date to 3% or 1.81m, the federal motor transport authority KBA told Reuters.

“Germany is very much back on track in terms of volumes,” Jonathon Poskitt, head of European forecasting for LMC Automotive, told the news agency. “The July result is certainly a positive development, reflecting a solid economic backdrop and generally improving consumer confidence.”

Poskitt noted discounts continued to boost sales in Europe, hitting carmakers’ profit margins and causing concern over the strength of the recovery.

“Incentives have been a feature in that market, and Europe more generally, for some time and we would not expect that to change greatly any time soon given the still relatively fragile market environment in the region,” he told Reuters.

The report contrasted the German result with France where light vehicle registrations fell 4.3% to 143,777 last month while gaining just 1.7% year to date.

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