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Industry group ups 2010 German car sales outlook

Industry group ups 2010 German car sales outlook

An industry group is raising its 2010 forecast for car sales in Germany modestly amid signs the market is recovering from a decline that followed last year's expiry of a popular car-scrapping bonus scheme.
Germany has seen heavy year-on-year drops in new car registrations this year as sales suffered from comparison with last year's boom.
However, the VDA industry group said Tuesday it now expects slightly over 2.9 million new car registrations in Germany _ up from a previous outlook of between 2.8 and 2.9 million. Last year, some 3.8 million cars were sold.
In contrast, German exports have boomed as the global economy recovers.
VDA said it expects a 21 percent increase in exports this year to 4.15 million cars. It sees production rising 10 percent to 5.45 million.