German new car sales down in May

New car registrations in Germany, a key measure of demand in one of the most important sectors of Europe's top economy, fell in May, but solely due to the number of public holidays last month, data showed Tuesday. A total of 256,400 new cars were registered last month, a decrease of seven percent compared with the figure for the same month last year, VDA said in a statement. Adjusted for this one-off effect, the market grew by four percent," said VDA president Matthias Wissmann.