New-Car Registrations In Germany Stabilize In July

By Agence France-Presse Demand in the German automobile sector stabilized in July, with the number of new registrations rising slightly for the second month in a row after falling in previous months, data published by the German Automobile Industry Association -- Verband der Automobilindustrie (VDA) on Aug. 12 showed. The number of new car registrations stood at 282,000 in July, an increase of 2% from the figure for July 2001, the VDA said. And a total 395,100 cars rolled off the production lines in the euro zone's biggest economy last month, 9% more than in July 2001. "While the recovery in the automotive sector is still lacking any real dynamism, the stabilization that began to make itself felt in June continued in July," the VDA said. However, there was one more working day in July this year than a year earlier, the VDA noted. Looking at the first seven months, the number of new registrations fell by 3% to 1.976 million on a 12-month basis, the VDA said. Seven-month output was down 6% at 2.965 million cars. Foreign demand for German-made cars remained the prime engine of growth in the sector, with export orders rising by 12% to 294,400 in July alone, even if they fell by 4% to 2.077 million in the seven months to July, the association said. Copyright Agence France-Presse, 2002