Europe vehicle sales to see first growth in 7 years in 2014 -Hyundai think tank

SEOUL Thu Oct 17, 2013 10:54pm EDT

SEOUL Oct 18 (Reuters) - European vehicle sales are likely to grow in 2014 for the first time in seven years, though unemployment and the lingering impact of sovereign debt problems will limit the extent, said a think tank affiliated with Hyundai Motor Group.

The Korea Automotive Research Institute in a report released on Friday said it projects European vehicle sales will rise 2.5 percent to 13.87 million units next year, compared with a decline of 3.8 percent to 13.53 million this year.

The think tank said it expects a recovery in U.S. vehicle sales to slow in 2014 due to a likely rise in central bank interest rates. It projects U.S. sales to rise 3.2 percent to 16.1 million vehicles, compared with a rise of 7.6 percent to 15.6 million this year.

The think tank said Chinese demand is likely to push global vehicle sale growth to 4 percent next year from 3 percent this year.

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