German October new car sales up about two percent: source

Mon Nov 4, 2013 4:29am EST
 
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HAMBURG (Reuters) - Car sales in Germany, Europe's largest auto market, stabilized in October in a sign of a recovery in vehicle demand in the region.

New auto registrations in Germany, home to Volkswagen (VOWG_p.DE: Quote), Daimler (DAIGn.DE: Quote) and BMW (BMWG.DE: Quote), rose 2 percent year-on-year, a source familiar with the matter told Reuters on Monday, speaking on condition of anonymity because official figures have not been published yet.

Year-to-date, German deliveries have dropped between 5 and 6 percent, the source further said.

Registrations can be an imperfect indicator for the health of Germany's car market, since they can lag demand by around two to three months.

(Reporting by Jan Schwartz; writing by Edward Taylor; editing by Alexander Ratz)

 
The logo of German carmaker Volkswagen is seen at a VW dealership in Hamburg, October 28, 2013. Volkswagen is due to present company results on Wednesday. REUTERS/Fabian Bimmer