Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

German new passenger car registrations plummeted 45.5pc to 169,754 units in January compared with 311,394 the prior month, according to the latest data released by Germany’s Kraftfahrt-Bundesamt (Federal Motor Transport Authority) on Jan 3.


Car sales have plunged as a result of a second national lockdown in response to a new wave of COVID-19 outbreaks across Germany, with non-essential stores (including car dealerships and showrooms) closed since mid-December.


New vehicle registrations in January 2021 were also likely affected by the cessation of a tax break on Dec 31, which saw the German government repeal a 3pc value added tax (VAT) cut. 


This prompted some consumers to bring forward purchases of big-ticket items, like new vehicles, into December, accentuating the disparity between December and January sales figures.


Of the almost 170,000 new vehicles sales, Kraftfahrt-Bundesamt data showed that 71.2pc or 120,806 units of passenger cars were registered by commercial owners.


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