Car sales soar in March
New car sales soared by a record 63.1 percent in Spain in March in comparison to the same month last year and is probably due to the new government incentive programme.
A total of 124,756 new cars were registered during the month up from 76,501 in March 2009 and from 124,302 in March 2008, the Spanish car manufacturers’ association ANFAC said in a statement. They said that it was the sharpest increase in the history of the market in Spain.
It was also the seventh straight monthly rise.
Anfac attributed the increase to the government’s subsidy of up to 2,000 euros for new car purchases that came into effect last May.
The Spanish economy, the fifth largest in Europe, has been entrenched in recession since the end of 2008 due to the global financial crisis but worsened by the crash of it´s once buoyant property sector.
Spain posted a 17.9 percent decline in new car registrations last year following a record drop of 28 percent in 2008 as the country’s worst recession in decades caused consumers to curb spending.
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