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German car sales back on track in July

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German car sales back on track in July

Car sales in Germany recovered this July with the second-highest monthly gain in 2014, suggesting a further increase in demand for the following six months in Europe’s biggest auto market.

Registrations went up 6.8% to 270.249 cars sold as the main demand was for premium model cars and sport-utility vehicles with Porsche, Chrysler’s CHRY.UL Jeep and BMW being the top-selling brands. The increase last month was the highest since January’s 7.2% and it grew deliveries in Germany 3% to date, to 1.81 million cars sold.

Jonathon Poskitt, head of European forecasting for LMC Automotive, said that “Germany is very much back on track in terms of volumes. The July result is certainly a positive development, reflecting a solid economic backdrop and generally improving consumer confidence.”

German sales fell 2% in June because the same month the previous year had one more working day, slowing the ½ year gain to 2%, meaning 1.54 million autos. The rebound in Germany is happening while the sales in France (Europe’s 3rd biggest national market) drop 4.3%, paring the year-to-date gain to 1.7%. With a rise in auto sales for the past 10 straight months, Germany is predicted to grow 3-4% compared to last year’s 2.95 million cars sold.

By Gabriela Florea

by Cristian Gnaticov (my Google+) - Tuesday, August 5th, 2014 - filed under Industry, News, Sales Reports. Image credit: .
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