German new car registrations up 3.0% in Novewmber: VDA

2nd December 2011, Comments 0 comments

New car registrations in Germany, a key gauge of demand in one of the most important sectors of the eurozone's biggest economy, rose in November, trade data showed on Friday.

A total 269,300 new cars were registered in Germany last month, an increase of 3.0 percent year-on-year, the VDA auto industry federation calculated in its monthly statistics.

Taking the first 11 months of this year as a whole, new registrations were up by as much as 9.0 percent to a total 2.929 million vehicles, the federation said in a statement.

And that meant the industry was on target to seeing overall registrations rise by around 8.0 percent to 3.1 million units for 2011 as a whole.

"2011 is a strong car year. We're expecting new records in exports, production and sales," said VDA President Matthias Wissmann.

Nevertheless, "we won't be able to keep up the same rate of momentum in the coming year," Wissmann cautioned.

"We're expecting some headwind, but overall we remain confident if stability can be restored to the financial markets. We're taking our foot off the accelerator somewhat, but will maintain speed," he said.

© 2011 AFP

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