Car market: More new registrations - expert expects difficult year 2024

In the first ten months of the current year, 13.

Car market: More new registrations - expert expects difficult year 2024

In the first ten months of the current year, 13.5 percent more cars were newly registered in Germany than in the same period last year. As the Federal Motor Transport Authority (KBA) announced on Friday, 2.36 million new cars have been put on the roads since the beginning of the year.

However, the pre-Corona level is a long way off, and the tense overall economic situation threatens to make the car business more difficult in the coming months. In the pre-pandemic year 2019, just over three million cars were newly registered in Germany from January to October inclusive.

A “sweeping market recovery” is not to be expected given the very unfavorable conditions, says the consulting firm EY. “2024 will be difficult for the automotive industry. Customers’ reluctance to buy is increasingly causing problems for most manufacturers,” analyzed EY mobility expert Constantin Gall. "More and more manufacturers are enticing us with discounts and affordable financing or leasing offers." The times of high new car prices will soon be over. Gall assumes that not as many new cars will be registered in 2024 as in the pre-pandemic year 2019.

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