topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2126.85 0.35
DAX 6383.97 0.69
IBEX 30 6471.3 -1.10
CAC 40 3060.85 0.42
FTSE 100 5382.81 0.58
AEX 294.85 0.71
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13121.72 -0.25
TSX Composite 11576.47 0.09
ASX 4120.2 0.96
Hang seng 18800.99 0.47
Straits Times 2786.67 0.50
ISEQ 20 503.32 0.48
You are here: Home News Community News Spanish car sales show first rise in 16 months

Community News

archive
Enlarge font Decrease font Text size


02/10/2009Spanish car sales show first rise in 16 months

Trade data shows number of new car registrations leapt 18 percent to 77,374 cars in September.

Madrid – New car registrations in Spain leapt 18 percent in September on a 12-month basis, the first increase for 16 months as government incentives spurred sales, industry data showed on Thursday.

The Spanish auto sector, along with the property market, has been particularly hard hit by the global economic crisis which has had a severe effect in Spain.

A total of 77,374 cars were registered during the month, up from 65,594 in September 2008, Spanish car manufacturers' association ANFAC said in a statement.

It is the first month since April 2008 that the number of new car registrations in Spain has increased on an annual basis.

The sharp drop in auto sales began easing in Spain after a government subsidy for new car purchases of between EUR 1,500 and 2,000 came into effect on 18 May.

Registrations were flat in August, after falling by 10.9 percent in July and 15.9 percent in June.

In the nine months to the end of September, registrations were down 28.6 percent, ANFAC said.

It said the Renault Megane was the top-selling make in September, followed by the Citroen C4 and the Ford Focus.

Sales to individuals were up 48.6 percent on a 12-month basis, while those to car hire companies plunged 45 percent "due basically to financing problems." In 2008, new car sales plunged 28 percent, the biggest-ever annual decline when the country slid into its first recession in 15 years.

Spain's auto manufacturing sector is the third-biggest in Europe, although it has no national automaker except Seat, which is owned by Germany's Volkswagen.

It is also a major exporter, with its 18 factories belonging to some of the world's biggest automakers.

AFP / Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Technology in Spain

Sat phones/internet links

English in Spain

What is the best travel insurance cover to Spain?

American in Spain

U.S. citizens, plan to vote in 2012? Did you know...

Relocation to Spain

thinking of moving to madrid

Jobs in Spain

Job Agencies or how to find work.

participate in the forums

Inside Expatica
Editor's Guide: Getting Started in Spain

Editor's Guide: Getting Started in Spain

Expatica's Getting Started section will provide practical information on how you can open a bank account, exchange your driving licence, improve your Spanish, and more.

Groups and Clubs in Madrid

Groups and Clubs in Madrid

Here's a guide to an extensive list of groups and clubs in Madrid for expats, from sports groups to social and family gatherings.

Groups and Clubs around Spain

Groups and Clubs around Spain

A brief introduction to our Tax section for Spain, from help with inheritance tax to accounting advice.

Groups and Clubs in Barcelona

Groups and Clubs in Barcelona

Here's a short introduction to our Banking section for those living in Spain, from what to ask the experts to opening a Spanish bank account.