Car Sales Up 5%

Auto sales grew 5 percent year on year in January, picking up in response to shorter delivery times and better price offers, the Association of European Businesses said Friday.

That follows an increase of 1 percent the previous month.

The association estimated that 2.95 million cars will be sold in Russia during 2013. The figure the previous year was 2.94 million. Consumers will likely curb spending due to concerns about economic troubles in Europe.

"We see that customer activity is picking up across the industry as a response to attractive price offers and shorter delivery time for a wide variety of models," Joerg Schreiber, a committee chairman at the association, said in a statement. He described January's sales as "very encouraging."

(Reuters)

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