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Carmakers to lower 2008 target for Germany

Carmakers lower their target for new car registrations due to lower demand by car consumers.

Mon, Nov 03, 2008
Reuters

FRANKFURT, GERMANY - Domestic and international carmakers will lower their target for new car registrations in Germany due to continued reluctance among consumers to buy new cars, a German weekly reported.

The VDIK car importers' association is expected to lower its target for this year to less than the previously forecast 3.2 million new registrations, Welt am Sonntag said in an article to be published on Sunday citing confirmation by a VDIK spokesman.

The report said German auto industry association VDA also expected a decline and would lower its outlook when the association reports on October car sales on Tuesday.

VDA head Matthias Wissmann had said in September, new car registrations in Europe's biggest economy should end up "somewhere around 3.2 million" units.

A VDA spokesman declined to confirm the report, saying only: "We will announce October sales on Tuesday and do not want to anticipate that report."

New car registrations totalled 3.15 million in 2007, the worst year for new car sales since German reunification in 1990. (Reporting by Nicola Leske; editing by Chris Pizzey)

 
 
 
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