By on March 2, 2010

German car buyers boycotted the showrooms in February. Sales crashed to the tune of 29.8 percent. This according to the German car importers association VDIK via Das Autohaus [sub]. The number is not the official number (yet) but the VDIK is usually reliable. Only 195,000 new cars changed hands, compared to 278,000 in February last year.

Germany is in the vise grips of a huge hangover from the cash-for-clunkers Abwrackprämien-orgy of 2009. In February 2009, the program was launched, and sales started to take off by 21 percent.  Sales reached a 40 percent apogee in June. Compared to these numbers, the coming months will look absolutely awful. Small cars and subminiature vehicles, the big gainers of the Abwrackprämie, crashed the most.

With only 195,000 units sold, Germany is way below February 2008 (228,630 units). Germany is back in carmageddon territory.

Martin Wissmann, head of the German auto manufacturer association VDA, predicts that German car sales in 2010 will be around 2.75m to 3m, compared to 3.8m in 2009. This would mean a drop of somewhere between 21 and 28 percent.

There is one bright spot: Germany’s car industry is quite export dependent, on the average, the country exports as many cars as it consumes at home. German exports have been growing for five straight months, and they bounced strongly in February: Exports are up 57 percent compared to February 2009. February 2009 wasn’t a good month for car sales. Except in Germany.

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8 Comments on “Germany In February: Karpokalypse Now...”

  • avatar

    So, the old saying about wetting your pants to stay warm is still valid?

  • avatar

    In the pre and post millennial period financial wizards would claim to “create value” for XYZ Corp by excessive borrowing to buy out other companies. End result – XYZ Corp now owes more than it is worth and can’t make the balloon payment on its debt.

    “Car-pocalypse Now” really was an attempt to “create value” by destroying property, in this case the vehicle trade in – along with a check from the taxpayers, which was usually borrowed money. End result – the scheme robbed sales from the future – which will prolong the duration of “Car-maggedon”.

  • avatar
    Rod Panhard

    What was the weather like in February? Retailers here in the States say February’s foul weather kept shoppers away.

  • avatar

    “End result – the scheme robbed sales from the future – which will prolong the duration of ‘Car-maggedon’.”

    Yep. Sounds a little like the U.S. Federal Reserve (which is a private bank) scheme. We will loan you your currency right now… at interest. Then you have to pay us back in debt slavery LATER. And all the while they laugh at you openly with currency plastered with Illuminati symbols.

    VW, you got Porsche now… brace for impact!

  • avatar

    If you have any interest in financial schemes or the affairs of the US Government you should probably watch that.

  • avatar

    Was 2009 not an exceptional good year for car sales in Germany. IIRC 3.1 million is what they sell in an average year. So how does February 2010 compare to February 2008? Or is that not good for writing sensationalist headlines? Which i like.

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