Car sales rise in Germany but Ford and Toyota report falls

Official figures from the VDA have revealed that sales of new Germany cars rose by 22% compared with the same month in 2008 – the highest February sales for a decade.

A total of 277,800 vehicles were sold in Germany during the month after a Government incentive offered consumers €2,500 (£2,236) to scrap their old car and buy new, more energy-efficient ones.

Matthias Wissmann of the VDA expects the strong sales to continue.

However, exports of German cars fell by 51% to 201,900.

The car industry worldwide has suffered as consumers cut back on big ticket items and many other carmakers worldwide have been making major cut backs.

Today, Ford Motor reported a 46% fall in US vehicle sales in February compared with a year ago.

Meanwhile Toyota, which is the world’s largest carmaker, said today it is expecting the biggest slump in car sales for over three decades.

Furthermore, the Japanese carmaker is considering plans to put its European workforce on a shorter working week and is seeking a Government loan to help its car financing unit.

Story link: Car sales rise in Germany but Ford and Toyota report falls