German Jan car sales...
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German Jan car sales...
Frankfurt, Feb. 11 (Bloomberg) -- German new car sales fell 3 percent last month as consumers held back from replacing vehicles amid slow economic growth, rising unemployment and the possibility of higher taxes. Production rose 1 percent from a year ago.
New car sales in January fell to 237,000 vehicles, the German carmakers' association, or VDA, said in a faxed statement. Production of cars rose to 410,800 vehicles. Exports rose 3 percent to 301,000 units.
German consumers have been reluctant to make large purchases as unemployment has risen. The government has proposed increasing the tax on company-provided cars by 50 percent. Volkswagen AG, Europe's biggest carmaker, and General Motors Corp.'s Adam Opel AG unit in Germany have offered loans with 0.9 percent interest to spur sales.
New car sales in January fell to 237,000 vehicles, the German carmakers' association, or VDA, said in a faxed statement. Production of cars rose to 410,800 vehicles. Exports rose 3 percent to 301,000 units.
German consumers have been reluctant to make large purchases as unemployment has risen. The government has proposed increasing the tax on company-provided cars by 50 percent. Volkswagen AG, Europe's biggest carmaker, and General Motors Corp.'s Adam Opel AG unit in Germany have offered loans with 0.9 percent interest to spur sales.
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