German new car registrations declined nearly 5% on the year in
July, but were flat over the first seven months of the year,
international vehicle manufacturing association VDIK said Thursday,
amid fears of a stalling German economy.
MAIN FACTS:
-This is the first monthly decline on the year since January
2012, after registrations were flat in February.
-New car registrations amounted to 248,000 units in July.
-For the January to July period, new car registrations in
Germany were stable at 1.8 million units, despite strong declines
in other European countries, VDIK said.
-However, the association noted order intake and backlog in the
industry are easing.
-Europe's car market may pick up in autumn if consumer
confidence is restored by a solution to the financial crisis, VDIK
president Volker Lange said.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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