(MENAFN- Qatar News Agency) European auto sales rose for a fifth straight month in January, an industry report showed Tuesday, as the Continent's mass-market automakers led a modest but broad expansion.
New car registrations, a proxy for sales, rose 5.5 percent from January 2013, the European Automobile Manufacturers Association reported
Sales were led by Volkswagen, Renault and PSA Peugeot Citro?
The January figure, largely in line with expectations, added to growing confidence that the European Union passenger car market has finally passed the worst, as buyers many driven by a need to replace older models return amid a slow economic recovery, reported the New York Time
The market last year shrank 1.7 percent, to just 11.9 million units, the fewest since 1995, but analysts expect growth this year in the low single digit
Analysts say high unemployment 12 percent in the euro zone as well as demographic and cultural shifts make it unlikely the market will return to its precrisis levels before the end of the decad
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