24 October 2013

Europe's new-car sales to grow 2.5% in 2014

European vehicle sales are likely to grow in 2014 for the first time in seven years although unemployment and the lingering impact of sovereign debt problems will limit the extent, a think tank affiliated with Hyundai Motor Group said.

European vehicle sales will rise 2.5 percent to 13.87 million units next year, the Korea Automotive Research Institute said in a recent report. The rise compares with a forecast decline of 3.8 percent to 13.53 million this year.

The report said Chinese demand is likely to push global vehicle sale growth to 4 percent next year from 3 percent this year.