European car sales up 5.2% in January

|By:, SA News Editor

European car sales increased 5.2% in January as the recovery in the region started to broaden out to countries such as Greece and Portgual.

Volkswagen (VLKAY) and Peugeot (PEUGY) were outperformers with sales gains of 7.6% and 3.8% respectively, according to the Association of European Carmakers. Hyundai (HYMLF) was on the other side of the ledger with a 5.5% drop in sales during the month.

Of the Detroit automakers, Ford (F) has the best month with a 8.8% rise in sales.