European car sales record hefty increase
Data released by the Brussels-based European Automobile Manufacturers Association (ACEA) indicates that European passenger car sales got off to a strong start in January. After several months of stagnation at the end of 2005, 1.23 million cars were sold in the European Union last month, up 3 percent from a year earlier. Add in the three EFTA countries of Iceland, Norway and Switzerland, sales increase 2.6 percent year on year to 1.26 million units. Strong growth was recorded in the major markets such as Germany (10.8 percent) and Italy (10.7 percent). However, sales fell dramatically in the UK (-13.3 percent) due to the ending of a 3 percent tax break that boosted demand at the end of 2005.