By Neetha Mahadevan
FRANKFURT--German new car registrations climbed 7.2% in January,
providing further evidence of an upturn in Europe's auto market,
according to data released Tuesday.
"Following a difficult start to 2013, particularly after the
situation gradually stabilized in the fourth quarter, this confirms
the forecast of market recovery," the Association of International
Motor Vehicle Manufacturers, or VDIK, said. The association expects
momentum to continue in the coming weeks.
Around 206,000 cars were registered in January in Europe's
largest auto market. VDIK attributed the jump in registrations to
increased demand by private customers and a 7% rise in demand for
diesel cars.
The association did not provide information on sales of
individual brands.
On Monday, Italy and France also reported higher new car
registrations. Italian new car registrations rose 3.2% in January,
while registrations in France were up 0.5%.
ACEA, the European association of auto makers, will release
January new car registrations for Europe on Feb. 18. The
association has forecast that Europe's auto market will grow around
2% this year, after a 1.7% decline in 2013 when sales fell to their
lowest level in almost two decades.