European car sales accelerate

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European car sales accelerate

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Another rise in sales and at a faster rate than previously. New car sales across the EU are up for the 17th consecutive month with close to a million units being sold.

The European Automobile Manufactures Association said new car registrations soared 6.7 percent year on year in January across the EU excluding Malta, the strongest pace of growth since March last year.

The data represents a three percent rise from last month while in November the market was flat with 1.4 percent increase. Spain and Italy accelerated ahead showing the highest growth. The UK recorded a 6.7 percent increase with France just behind.

The group of 12 countries which joined the EU since 2004 also recorded substantial growth of 4.6 percent in January, the ACEA said.

Topping the league of manufacturers with the biggest share of the market is the Volkswagen group with a 25.5 percent share the same as last year.