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Business

German car market roaring in 2015

Sales of new cars in Germany last year jumped to their highest since 2009 powered by cheap gasoline and low interest rates. Car production also rose, the industry said as it expects headwinds from volatile markets.

According to industry figures released Wednesday, in December 2015 alone, a total of 247,300 new cars were registered in Germany - a rise by 8 percent compared with the same month a year ago, and driving last year's sales here to 3.206 million cars.

Matthias Wissmann, the head of the German carmakers' association, VDA, said the figure was evidence of a "dynamic development" in the German car market, for which a rise in 2016 orders by 7 percent provided "reason for optimism."

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VDA data also showed an increase in the production of German auto makers by about 2 percent to 5.74 million passenger cars. Exports grew 3 percent in 2015 to 4.41 million cars.

While December saw bumper sales of new cars in Germany, exports slumped by 4 percent in the month. Wissmann warned that competition in international markets was "growing fiercer," with German manufacturers having to ready themselves for "increasing volatility" this year.

uhe/tk (Reuters, AFP, dpa)

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