Spanish auto sector sector wraps up bleak year: "Spain's auto sector, a key source of jobs, is wrapping up a disastrous year due to a slump in demand from the rest of Europe and the end of a government trade-in bonus scheme at home.
Sales of new cars
in the country plunged 25.5 percent in November over the same period last year to 64,515 units, the fifth monthly decline in a row, according to figures from manufacturers' association Anfac.
While total sales in the first 11 months of the year are up 5.9 percent to 913,073 units, this is due to strong sales during the beginning of the year before the government pulled the plug on the subsidies programme in June.
Under the trade-in scheme introduced in May 2009, the government offered subsidies of up to 2,000 euros to help boost car sales. The programme expired when the money set aside for it was exhausted.
For all of 2010 Anfac expects sales to total sales of around 950,000 units, levels last seen in the early 1990s. It said sales should average between 1.3 and 1.4 million units per year."
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Sales of new cars in the country plunged 25.5 percent in November over the same period last year to 64,515 units, the fifth monthly decline in a row, according to figures from manufacturers' association Anfac.While total sales in the first 11 months of the year are up 5.9 percent to 913,073 units, this is due to strong sales during the beginning of the year before the government pulled the plug on the subsidies programme in June.
Under the trade-in scheme introduced in May 2009, the government offered subsidies of up to 2,000 euros to help boost car sales. The programme expired when the money set aside for it was exhausted.
For all of 2010 Anfac expects sales to total sales of around 950,000 units, levels last seen in the early 1990s. It said sales should average between 1.3 and 1.4 million units per year."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
