German vehicle registration rate slows down in August: trade data
AFPFRANKFURT, Hesse -- New car registrations in Germany, a key measure of demand in one of the most crucial sectors of Europe's top economy, fell in August, data showed on Tuesday.
September 4, 2013, 6:38 pm TWN
A total 214,100 new cars were registered last month, a drop of 5 percent compared to sales in the same month in 2012, according to data compiled by the automotive industry federation VDA.
However, the drop was largely due to a calendar effect since there was one fewer working day in August this year than in the same month a year ago, VDA explained.
And in seasonally adjusted terms, the number matched the year-earlier level.
VDA President Matthias Wissmann said: “The stabilization in the domestic car market already seen in July continued in August.
“It is pleasing that domestic orders rose again, this time by 2 percent,” Wissmann said.