Germany’s new-car market grew by 24 percent year-on-year in October even after a car their own scrappage scheme ran out of money in September, the VDIK foreign carmaker association said today.
About 321,000 new cars were registered in Europe’s biggest car market last month, bringing the total in the first 10 months to 3.312 million, a gain of 26 percent.
Berlin’s 5 billion euro ($7.4 billion) program offering motorists 2,500 euros to scrap their old cars and buy new ones ran out of funds on Sept. 2 but will continue to have an impact on registrations for months as cars that were ordered under the scheme get delivered.
New-car sales in Italy, Spain and France also rose sharply in October, helped by government subsidies for car buyers.
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