German New Car Registrations Up 8% in June
04 7월 2016 - 7:59PM
Dow Jones News
By Monica Houston-Waesch
FRANKFURT--German new car registrations rose in June and the
first half of the year, and the industry is poised for further
gains in the second half, the German automobile industry
association VDA said.
"The domestic market is exhibiting a vitality that many hadn't
expected," VDA said in a press release on Monday.
New registrations, a proxy for sales, were up 8% in June,
bringing sales for the first half of the year to 1.73 million
automobiles, a 7% rise on the year-earlier period, VDA said. In
May, German registrations were up 12% on the year.
The German data follow gains in Spain, Italy and France. In
Italy registrations were up 11.9% on the year, while they rose
11.2% in Spain, Evercore ISI said in a research note. French sales
growth slowed to 0.8% from June 2015, from a 22% jump in May.
U.K. car market data is expected later this month, after car
registrations increased 2.5% in May.
The Brexit vote, coming late in the month of June, is unlikely
to have had a significant effect on U.K. car registrations,
Evercore ISI said.
"If anything we could see a slight uptick in sales during the
last week due to the fact that [U.K.] consumers may have been
looking to purchase a new car before any anticipated price
increases," it added.
European Automobile Manufacturers' Association, or ACEA, data on
pan-European new registrations is scheduled for July 15.
Car sales in the EU are expected to rise about 5% this year to
over 14 million cars, the ACEA forecast in early June.
Write to Monica Houston-Waesch at nikki.houston@wsj.com
(END) Dow Jones Newswires
July 04, 2016 06:44 ET (10:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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