India | UK | US

Asian carmakers lead fall in German vehicle sales - Summary

Berlin - Asian carmakers lead a fall in German vehicle sales last year, data released Tuesday showed, with the giant Japanese auto group Toyota Motor Corporation reporting a 27-per-cent sales plunge in Europe's biggest auto market during 2008. Along ...
Posted : Tue, 06 Jan 2009 15:18:13 GMT
By : DPA
Category : Business
News Alerts by Email ( click here )
Business News | Home
Berlin - Asian carmakers lead a fall in German vehicle sales last year, data released Tuesday showed, with the giant Japanese auto group Toyota Motor Corporation reporting a 27-per-cent sales plunge in Europe's biggest auto market during 2008. Along with Toyota, Japanese rivals Mitsubishi, Mazda and Honda also reported steep falls, Germany's vehicle registration office (KBA) said Tuesday, as the growing sense of economic uncertainty hit Germany's key car sector.

Korean carmaker's new German car registrations slumped by 15 per cent last year.

The release of the figures showing Toyota German sales' slump came after the carmaker announced that it was planning to suspend production at its domestic plants for 11 days in the coming months and forecast its first-ever operating loss.

Releasing its latest figures, the KBA said new car registrations in Germany dropped by 6.6 per cent in December compared to the same month last year.

New registrations in Europe's biggest economy declined to about 226,000 vehicles, the KBA said after they plunged by about 18 per cent in November.

Full-year new car registrations in Germany dropped by 1.8 per cent to 3.01 million vehicles, the KBA said.

But while leading European carmakers such as Volkswagen, PSA Peugeot-Citroen and Daimler recorded modest increases in car registrations last year, Mazda reported a 14.3-per-cent fall and Mitsubishi posted a 18.7 per cent drop.

Japanese carmakers Nissan and Hyundai also bucked the trend with new German car registrations rising by 10.0 per cent and 8.7 per cent respectively.

Fiat's new car registrations in Germany raced ahead by 19.4 per cent last year highlighting the success of the Italian carmaker's new models.

The KBA data also showed German-based Volkswagen, which is also Europe's biggest carmaker, again holding the biggest share of Germany's auto market with 20 per cent of new registrations last year.

Luxury carmakers Mercedes Benz and BMW came in second and third with market shares of 10.6 per cent and 9.2 per cent respectively.

Toyota had a 3.1 per cent of the German car market last year, the KBA said.

Copyright DPA

Share/Save/Bookmark

Article : Asian carmakers lead fall in German vehicle sales - Summary
Print this article
Email this article

Stay Updated
News gadget on your Google homepage
Subscribe to a news feed in Google Reader


Related News

Czech premier proposes central bank chief for EU executive
Prague - Czech Prime Minister Jan Fischer proposed Zdenek Tuma, the governor of the Czech National Bank, for a post in the European Commission, the premier's office said Sunday. Fischer has said that he would select the Czech Republic's candidate for...

Myanmar expects to export 1 million tons of rice this fiscal year
Yangon - Myanmar exported 670,000 tons of rice in the fiscal year that ended March 31 despite the devastation wrought by Cyclone Nargis and expected to export up to 1 million tons this fiscal year, media reports said Sunday. The export volume of ric...

Indonesian maids outnumber Filipinos in Hong Kong for first time
Hong Kong - Filipino maids in Hong Kong are outnumbered for the first time by domestic helpers from Indonesia, according to government figures published Sunday. The number of Indonesian maids in the wealthy former British colony is now more than 130,...

Economic woes cost German employment agency billions
Nuremberg - The German employment agency will need to plug a funding hole of 16 billion euros (24 billion dollars) in 2010, an agency spokeswoman said on Saturday, confirming a media report. Job losses resulting from the economic crisis meant the agen...

Brown proposes financial market tax at G20 meeting - 2nd Update
St Andrews, Scotland - British Prime Minister Gordon Brown urged finance ministers from the world's 20 leading economies meeting Saturday to consider imposing a tax on financial transactions to help head off future global economic crises. It cannot ...

Head of GM Europe may switch to India's Tata: media reports
Frankfurt, Germany - The European chief of General Motors (GM), Carl-Peter Forster, may switch to Indian car manufacturer Tata, German media reported Saturday. Forster, 55, is quitting GM after strongly criticizing the Detroit-based car giant's surpr...

Economic recovery, climate change tops G20 meeting
St Andrews, Scotland - Finance ministers from the world's 20 leading economies are meeting in the Scottish golf resort of St Andrews Saturday to review the state of the global economy amid signs of a tentative recovery from its biggest slump in a gen...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 

 

More Business News click here
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark

 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.