A think tank associated with Hyundai Motor Group said that auto sales in Europe are expected to increase in 2014 for the first time in the last seven years. However, its growth will continue to be limited by unemployment and the enduring impact of sovereign debt problems. In a report published by the Korea Automotive Research Institute, it’s estimated that European vehicle sales will grow by 2.5% to 13.87 million units in 2014.
In comparison, it’s predicted to fall by 3.8% to 13.53 million this year. The think tank said the recovery in U.S. vehicle sales will slow down next year because of a probable increase in central bank interest rates.
It estimates that U.S. sales will increase by 3.2% to 16.1 million vehicles, compared with a climb of 7.6% to 15.6 million this year. According further to the report, the demand in China is expected to drive up worldwide vehicle sale growth to 4% next year from 3% this year. [source: automotive news - sub. required]