VDIK: Passenger car market declines in October
Bad Homburg. As expected, with 252,628 new registrations, October is below the result of the same month last year. The decline corresponds to a minus of 7.4 percent. With million newly registered passenger cars in the first ten months, the market is still 1.4 percent up on the same period last year.
The private market cannot escape the trend and, with around 91,500 new registrations, recorded a minus of 10 percent in October. With million new registrations in the first ten months of the year, the private market grew by more than 50,000 passenger cars compared to the same period last year. This corresponds to an increase of 5.3 percent.
New registrations of diesel passenger cars fell by 16 percent in October. New diesel registrations also declined in the ten-month cumulative period. A good 935,600 registrations represent a decline of 19 percent. The share of diesel passenger cars in the overall market is now 32 percent (previous year 40 percent).
The new registrations of VDIK member companies grew by 3.8 percent in the period from January to October, significantly more than the overall market. This increases their market share to 39.0 percent (previous year 38.1 percent).
VDIK President Reinhard Zirpel: “The impacts of the “WLTP effect” continue to be clearly felt in the market. The market will stabilise as a result of the changeover premiums offered by almost all brands. In addition to a large number of vehicles with alternative drive systems, the VDIK member companies offer attractive models with combustion engines. As early as October 2018, around 60 percent of their newly registered diesel passenger cars will meet the EURO6d-Temp standard, thus making an immediate and significant contribution to the sustainable improvement of air quality.