Germany Sept new-car sales rise 9.4% year on year

05 October 2016 17:47 Source:ICIS News

LONDON (ICIS)--Germany’s new-car registrations rose 9.4% year on year to 298,002 in September, the country’s federal vehicle authority said in a data release on Wednesday.

On a sequential comparison with August, September registrations were up 21.6%.

For the first nine months of 2016, registrations were up 6.1% year on year to 2.56m, according to the data by Flensburg-based Kraftfahrt-Bundesamt (KBA).

Gasoline cars accounted for 53.1% of September’s registrations, diesel cars for 44.6%, with hybrid and electric cars accounting for the remainder.

Volkswagen remained the market leader with a share of 19.5% of September’s registrations.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

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By Stefan Baumgarten