Monday May 5, 11:33 AM
German new car registrations rebound in April: trade data
FRANKFURT (AFP) - German new car registrations rebounded in April following a slump the previous month, figures released on Monday by the VDA automobile federation showed.
A total of 318,000 new cars were registered, a jump of 20 percent, VDA said.
One reason for the increase was that the Easter holiday fell in March this year, which meant that there were three more working days in April this year than in 2007.
"The domestic market is on the path to stabilisation," a VDA statement said.
The federation pointed to a drop in unemployment and improved prospects for a pick-up in consumer spending as factors that contributed to the results.
In the first four months of 2008, new car registrations have increased by an annualised 7.0 percent, with more than one million deliveries.
"That gives hope for a more stable year than in 2007, even though a vigorous rebound is not yet underway," VDA president Matthias Wissmann was quoted as saying.
Last year was the worst for the German car market since the country was reunified in 1990.
Because of holidays, VDA did not publish figures for German production and export as ususal, a spokesman said.
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