MUNICH -- New-car sales in Germany rose 2.6 percent in January, adding to signs that the European rebound is continuing.
German registrations increased to 211,337 vehicles last month, the KBA federal transport authority said Tuesday. Sales grew even though January had one working day less than the same month last year.
The rise follows sales growth last month in France, Italy and Spain.
"European auto sales are off to a strong start," analysts at Evercore ISI said in an investors' note today. "We believe that improving European consumer sentiment and disposable income can benefit not just European car sales but also earnings and, hence, equity prices."
French car registrations rose 5.9 percent to 132,824 in January, halting a three-month decline. Italian sales increased by 11 percent to 131,385 vehicles. Car sales in Spain continued to be boosted by a scrappage program and were up 28 percent to 68,118 vehicles, the 17th consecutive month of growth.