German car sales drop 30% in January

New passenger car registrations in Germany fell more than 30% in January to around 170,000 vehicles, an industry source told Reuters on Wednesday.

Car dealerships have been hit by a second lockdown amid the coronavirus pandemic in Germany, with non-essential stores closed since mid-December, and by tax breaks for consumers running out at the end of 2020.

New car registrations in December had been up by almost 10%.

Car authority KBA is due to publish official sales figures later on Wednesday.

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Equities, Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe