The German new car market decreased for the fourth consecutive month in March, recording a decline of 26.5 percent compared to the same month last year, as the incentive packages for new vehicle buyers were abolished at the end of December, data from the industry association showed on Tuesday.
Thus, in the first three months of 2010, new car sales in Germany decreased by 23 percent compared to the same period the previous year, announced the German Association of Foreign Automobile Manufacturers (VDIK). "The share of new cars with diesel engines showed the expected recovery in March," said VDIK President Volker Lange. "Market shares for mini and multi-purpose vehicles, which recorded disproportionate growth last year, also decreased in March. Compared to March 2008, however, they recorded double-digit growth," he added. A long and harsh winter is also one of the reasons that deterred potential buyers from visiting car dealerships, the association further stated. Germany, the largest car market in Europe, thus represents an exception among other leading markets in Europe that are experiencing growth thanks to government incentives. (H)
