auto industry - Germany
Car sales plunged in November
Wednesday 03 December 2008
According to a German carmakers association, new-car registrations plunged 18% in November. The auto crisis has affected other European countries as well. Spain and Italy registered falls of nearly 50% and 30% respectively.
Wednesday 03 December 2008
AFP - German new-car registrations plunged by 18 percent in November from the same month a year earlier, the Verband der Automobilindustrie, a German automobile manufacturers federation, said on Wednesday, while forecasting even worse results in 2009.
A total of 233,800 new cars were registered in the month, a VDA statement said.
For the entire year, the federation forecast sales of just under 3.1 million vehicles, and said it expected a slump to 2.9 million in 2009.
On Tuesday, the VDIK vehicle importers' association estimated that 2008 would be the country's worst year since Germany was reunified in 1990.
The auto crisis has affected other European countries as well, with French new car registrations down 14 percent in November in raw figures and 5.0 percent when adjusted for comparable working days.
Spain and Italy showed even more dramatic falls, at nearly 50 percent and 30 percent respectively.
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