European new car sales rise

May 17, 2013

For the 1st time since '11, monthly new car sales grew on a year-over-year basis. Registrations rose 1 .7% in April to 1.038 mil. That was up from the historic April low of 1.021 mil set in '12, according to European auto trade group ACEA. Europe's auto industry collapsed in sync with the Great Recession. Fri., Germany's Volkswagen (VLKAY) rose 3.2% to 41.30 and DaimlerChrysler AG (DDAIF), maker of Mercedes-Benz and Jeep, rose 4.5% to 62.97.