Europe: Spain takes monthly auto sales growth to 24 months image

Spain’s new vehicle registrations jumped 23 percent last month to post a total of two consecutive years of delivery growth, with the August tally at 55,918 units.

The country, which has been heavily impacted by the last financial crisis took its time before posting a turnaround but now can brag with two full years of consecutive gains, and most of the monthly increases were in the double-digit region. The 23.3 percent surge in August came after the July month had a similar result of a 23.5 percent rise. According to automotive dealers federation Faconauto, who released a statement together with vehicle makers’ association ANFAC, the month was the best August for the auto industry in terms of sales since 2009 and the rise was the highest for any August over the past 16 years. After the first eight months of the year, the new vehicle registrations in Spain jumped 22 percent to a total of 714,062 autos.

The growth has been buoyed by the long running Spanish government support program that sought to increase new vehicle purchases – it helped trigger the two-year long tremendous growth and has been renewed for the seventh time in a row back in May thanks to a purse of 225 million euros ($247 million). The scheme helps owners that scrap their older cars to buy a new one, greener, delivering an incentive of 2,000 euros – half from the government and the other half from the automaker.

Via Automotive News Europe