CPI is the most important inflation data that affects the Central Bank’s monetary policy.
New car sales dip 3% in Germany in June
In June German new car sales went down 3% the previous month, dipping to 327,800 cars, as car industry association VDA informed on Tuesday, pointing to two fewer selling days.
Year-to-date registrations in the EU’s largest car market grew 3% on year-earlier levels, showing 1.79 million cars, VDA told, confirming a Reuters message.
According to the industry association, it expected German domestic vehicle production and exports to decline 2% each in 2017, tumbling to respectively 5.6 million and 4.3 million cars.
Car makers are actually watching with concern the dropping market share of Euro-6 diesel cars as well as the ascending share of fuel-powered cars, emitting higher levels of carbon dioxide emissions, as VDA told. The given organization represents car makers and suppliers including BMW, Volkswagen and Daimler.
With German elections three months away, the country's car industry is supposed to contribute towards an initiative to reduce pollution from diesel powerplants to help to improve air quality and also regain trust, which was spoilt by VW's 2015 emissions scandal.
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