German new car registrations up 1.0% in October: VDA

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New car registrations in Germany, a key gauge of demand in one of the most important sectors of the eurozone's biggest economy, tailed off in October, trade data showed on Wednesday.

A total 258,400 new cars were registered in Germany last month, an increase of just 1.0 percent year-on-year, slower than the 8.0-percent growth rate recorded the previous month, the VDA auto industry federation calculated in its monthly statistics.

Taking the first 10 months of this year as a whole, new registrations nevertheless increased by 10 percent to a total 2.66 million vehicles, the federation said in a statement.

"The domestic car market remains stable," said VDA, which is forecasting a total 3.1 million new car registrations for the whole of 2011, compared with 2.1 million in 2010.

© 2011 AFP

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