German Car Market Collapses

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

The end of the scrapping premium has a full impact on the sales figures. In March sales in Germany collapsed by almost 27 percent. The industry expected the decline.

The end of the scrapping premium can be clearly felt on the German car market. In March, new car sales fell by 26.5 percent to 295,000 cars compared to the same month last year, as the Association of Importers in Germany VDIK announced on Tuesday in Bad Homburg. In March 2009, sales because of the scrapping premium had grown significantly by around 40 percent, said an association spokesman. The decline was expected in the form. "We are currently sticking to the forecast given," said the spokesman. The VDIK expects 2.8 million to 2.9 million new registrations in Germany for the current year, depending on the economic development.

23 percent below the previous year

After the first quarter, the German car market was 23 percent below the previous year. According to the preliminary statistics of the Federal Motor Transport Authority (KBA), around 670,000 new cars were registered, according to the association's announcement. The proportion of vehicles with diesel engines has increased again compared to the previous year. The association rates the trend towards smaller cars as continuing. Compared to March 2008 - the year before the premium - the vehicle segment of the small cars recorded double-digit growth rates. (dpa)