It seems that more and more car buyers in Europe’s biggest car market are delaying their car buying decisions. This is according to a survey conducted by German car dealer association ZDK which has estimated that 300,000 Euro 5 diesel vehicles worth US$5.4 billion are currently sitting in unsold inventory across the country.
“These cars are difficult to sell at the moment, because customers feel insecure,” said ZDK vice president Thomas Peckruhn.
Germany’s Chancellor Angela Merkel recently said that bans on the internal combustion engine were “the right approach,” but later she retracted on this statement and said that her government would work with industry players to “restore trust in diesel.”
The survey also strongly supports industry lobbying efforts that attempt to demonstrate the potential economic impact of an outright ban. Diesel powertrains are claimed to be associated with 800,000 jobs.
“We need clear signals from the policy on how to proceed,” Peckruhn added. “Otherwise, consumer uncertainty will continue to rise as will the price pressure on the Euro 5 diesel vehicles.”