Average German car price to set record next year: institute

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The average price of a new car in Germany is expected to hit a record 25,000 euros (33,500 dollars) next year, according to a study released Tuesday by the Center for Automotive Research (CAR).

In the first nine months of 2010, the average price climbed 3,000 euros from the same period in 2009 to 24,752 euros, said the centre, which is part of the university of Duisburg-Essen, in western Germany.

Prices last year fell owing to a slump in the auto market and a cash for clunkers subsidy that underpinned sales of smaller and cheaper cars.

Germany's economic recovery has rekindled interest in larger and more expensive automobiles, German expert Ferdinand Dudenhoeffer said.

© 2010 AFP

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