Germany’s new car registrations down by 8%
In May, Germany's new car registrations declined by 8% from the same month year earlier to 282'000 units as consumers' reaction against the rising oil prices, the German Automotive Association (VDA) said. In the first five months of 2004, new car registrations amounted to 1.34 million units, down by 3% annually. Automobile production was recorded as 427'300 units, indicating a drop of 2% while exports rose by 3% to 296'000 units.