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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

EU new car sales up 7.1pc in January

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Rome: The market for new cars in the European Union started the year on a high note, with January sales up 7.1 per cent on a year-on-year basis, industry figures showed. New car sales are seen as a proxy for economic health. In the EU,they fell sharply following the 2008 financial crisis, but have risen steadily since September 2013, aside from a few blips.


Last month benefited from “a positive calendar effect” and was the best January in terms of sales since 2008, the European Automobile Manufacturers Association (ACEA) said in its monthly bulletin.


European Union sales leader Volkswagen group had a 24.6 per cent share of the market in January, followed by the PSA group on 16.6 per cent, Renault on 9.3 per cent and Fiat-Chrysler on 6.7 per cent. — dpa


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