New car sales in Germany continued to decline in March as the market sees a post-scrappage incentives ‘hangover’.
Industry body the VDIK said that the March market declined by 26.5% on last year to take the decline in the first quarter to 23%.
Go deeper with GlobalData
“The share of new cars with diesel engines showed the expected recovery in March,” VDIK President Volker Lange said in a statement.
“Mini and compact cars, which gained disproportionally in 2009, also declined in March 2010, but showed double-digit growth rates compared to March 2008,” he added.
German consumers took advantage of government car purchase incentive scheme last year, which has since expired. The German scrappage incentive helped to spur a 40% on-year jump in car sales last March.
The VDIK forecasts a 2.9m car market in Germany this year, well below the 3.8m achieved in 2009.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
