The VDA, Germany's auto industry association, said on Tuesday that the country's car exports have increased by over 50% to 419,000+ vehicles in March 2010 against the same month time last year, reinforcing the belief that the world may be on its way out of the recession.
In the first quarter of the year, Germany exported a total of 1.05 million cars, up 47 per cent over the same period in 2009.
However, domestic sales haven't fared as well after Germany's clunker-scrapping plan wrapped up last September; the "Fatherland's" domestic sales fell to 295,000 units (down 27%) in March 2010.
From the beginning of the year (January to March), 670,000 new cars were registered in Germany, representing a 23 per cent slide
However, analysts claims these numbers were expected and that it will take time for the market to readjust accordingly, considering sales varied greatly dependent on financial crises and cash-for-clunkers programs.
VDA's Matthias Wissmann explains: "The mood of the auto industry is brightening appreciably...We won't reach the pre-crisis level again in 2010, but we expect a good export year."
By Phil Alex
Via: AP
