Over 200,000 new registrations in October, 16.8 percent more than a year ago. Nevertheless, motor vehicle manufacturers are concerned.
People in Germany bought significantly more cars in October – but the industry is concerned that previous problems will return. 208,642 new registrations were recorded in October, an increase of 16.8 percent compared to the same month last year. This was announced by the Federal Motor Transport Authority (KBA) on Thursday in Berlin. The number of newly registered SUVs rose by 20.1 percent. Almost every third newly registered car belonged to this class.
Electric drives also increased significantly again: According to the KBA, around 35,800 battery cars were new on the roads – that was 17.1 percent more than in the same month last year.
The Association of International Motor Vehicle Manufacturers emphasized that October 2022 was still the second weakest October in history. “Even the strong growth cannot hide that,” said President Reinhard Zirpel according to the announcement. The level of new registrations is still well below the long-term average. “Customers’ reluctance to buy could soon cause the market just as much trouble as tight supply chains,” said Zirpel. According to the consulting company EY, 27 percent more vehicles were registered in October 2019, i.e. before the corona pandemic.
The trend reversal in the number of registrations began in September. At that time, the KBA recorded an increase in registrations of 14 percent compared to September 2021. Before that, the automotive industry was under pressure after months of delivery problems, especially for semiconductors. “Even if the supply of parts and the global supply chain remain tense, the lack of chips is slowly losing its terror,” said Peter Fuss, a partner at EY.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
