VDIK: Passenger car market continues to rise in October, up 3.7 percent year on year

Bad Homburg. The German passenger car market continued its recent trend, posting a 3.7 percent increase and 275,320 new registrations in October 2014. In total, 2,556,991 passenger cars were newly registered from January through October 2014, which is a 3 percent increase year on year.

With just under 96,000 new registrations, demand from private consumers in the overall market declined in October by 5 percent compared to the same month last year. After a strong start in the first quarter of the year, the private market continues to decline. With some 940,000 new registrations in the first ten months, private demand is down 1.7 percent year on year.

The demand for passenger cars with diesel engines reached 1.218 million units in the first ten months of 2014, up 3.6 percent from the same period last year. These vehicles thus account for 48 percent of new registrations.

As expected, the demand for commercial vehicle in the 7.5 – 12 t weight range (GVW), which based on the information available today, will have to pay road tolls starting in October 2015, has dropped. However, so far, there is no sign that demand is shifting to vehicles in the 3.5 to 7.5 t weight range (GVW), with even steeper declines in this segment than in the medium weight commercial vehicles.

VDIK President Lange: "I am pleased that the VDIK member companies continue to be very successful in the private market. They have increased their volume by almost 3 percent, accounting for 44 percent now as opposed to 2013. I believe that the passenger car market in Germany will continue the trend we have seen to date, and that the total figure for new registrations of over 3 million that was forecasted by the VDIK will be reached at the end of the year."

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