Spain new car sales down 12.1 percent image

Spain new car sales plunged to a 19-year low level in the first half of 2012, car manufacturers association ANFAC said on Monday.

New car registrations have fallen for a 24th straight month in Spain, where high unemployment and a prolonged economic slump is weighing on the country’s automobile industry.

In June alone, sales slumped 12.1 per cent from last year to 73,258 vehicles, the figures showed. ANFAC also reported that new registrations fell by 8.2 percent in the first half of the year to 406,070 units.
According to the report, Spain will not hit the 750,000 mark this year – compared to more than 1.6 million five years ago.

“The lack of consumer confidence shows people are not taking advantage of some of the best offers on record being made by the car manufacturers and concessionaires,” ANFAC’s Aranzazu Mur said.

Spain’s unemployment rate, highest in the European Union, increased to 24.6 percent in May from 24.3 percent a month earlier.
Spain insisted earlier Wednesday it would continue to push for the aid to be delivered directly to the ailing banks, rather than count as government debt, warning that these were crucial moments for the euro currency union.

Spain New car sales June