P.M. BRIEFING : German Car Output Sets Record
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FRANKFURT, Germany — German car output hit record levels in October, but fewer vehicles were exported compared with the year-ago period, according to industry figures released today.
Unabated growth in domestic demand more than offset a decline in exports, and the sector looked set to expand after two big car makers today said they were adding shifts.
Vehicle production was 499,900 units in October, up 10% from the year-earlier period, according to the Automobile Industry Assn. figures.
Car and van production rose 10% to 467,200 units in October, while truck production soared 25% to 32,700 units.
Vehicle exports fell 7% to 252,700 units in the period, with car and van exports down 8% at 236,800 units and truck exports up 4% at 15,900.
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