The German car industry is improving thanks to new models and is on track to reach its full-year target after a sales rise in April, German industrial body VDA told Reuters, which noted that new car registrations rose 4% to 310,000 vehicles last month, based on year-ago comparisons, in the first monthly gain this year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The April numbers put the industry back on track as the number of cars sold so far this year — 1.06 million — reached last year’s level, the auto industry association reportedly said.
“This result is a glimmer of hope, though the car business remains difficult,” VDA President Bernd Gottschalk said in a statement cited by Reuters.
The VDA reportedly said it was sticking to its full-year forecast of 3.25 million vehicles – or 271,000 on average per month – compared with 3.27 million cars in 2004.
Reuters noted the body had cut its forecast as new car registrations fell by 3% in January when car buying hit the brakes on the back of sluggish growth, surging unemployment and rising fuel taxes.
German car makers increased registrations by 7% to 218,000 vehicles in April, outperforming foreign importers — among them French and Japanese makers — which saw a 3% decline, Reuters said, adding that exports rose 11% to 345,400 vehicles due to strong growth in Western Europe.
