VDIK: Passenger car market has recorded its strongest quarter in 18 years
Bad Homburg. The German passenger car market achieved its best result since 2000 in the first quarter of 2018. In the first three months of the year 878,611 units were newly registered, which accounts for 4 percent more new passenger cars than in the same period of the previous year. The international motor vehicle manufacturers increased their sales with 8.3 percent stronger than the overall market and improved their market share from 37.4 to currently 39 percent.
The registrations of passenger cars with diesel engines fell by 21 percent to 283,800 vehicles in the quarter compared to the same period of the previous year. New registrations of passenger cars with petrol engines increased by 20 percent to 553,500 units, while the registrations of alternative engines increased by 73 percent to just over 41,000 units.
Sales to private customers developed significantly better than the overall market. From January to March, the share of private registrations in the total market increased by 16 percent, rising to 37 percent. The international motor vehicle manufacturers achieved a share of 46.6 percent there.
In March 2018 alone, the German passenger car market reached 347,433 new registrations of passenger cars and, due to two missing working days, closed at 3.4 percent below the same month of the previous year.
VDIK President Reinhard Zirpel: “The strong first quarter contributes to a significant rejuvenation of the vehicle stock and thus ensures a further reduction of emissions. The successful programs of the international motor vehicle manufacturers to replace old with new low-emission vehicles support this development and lead to an increase in the market share of the VDIK members to a long-term high of 39 percent. “