The Korea Automotive Research Institute in a report released on Friday said it projects European vehicle sales will rise 2.5 percent to 13.87 million units next year, compared with a decline of 3.8 percent to 13.53 million this year.

The think tank said it expects a recovery in U.S. vehicle sales to slow in 2014 due to a likely rise in central bank interest rates. It projects U.S. sales to rise 3.2 percent to 16.1 million vehicles, compared with a rise of 7.6 percent to 15.6 million this year.

The think tank said Chinese demand is likely to push global vehicle sale growth to 4 percent next year from 3 percent this year.

(Reporting by Hyunjoo Jin; Editing by Christopher Cushing)

Stocks treated in this article : Hyundai Motor Co, Kia Motors Corporation