German Car Sales Jump 2 Percent in October

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), Daimler (DAIGn.DE) and BMW (BMWG.DE), 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.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza