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.
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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.
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By GlobalDataGerman 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.
