The beleaguered Spanish car market appears to be showing signs of life, helped by a scrappage scheme and the calendar.
Data from ANFAC shows that April car sales rose 10.8% on last year to 62,317 units, the first monthly year-on-year increase since August of last year.
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The gain reflects the continued impact of an extended scrappage scheme (PIVE) in Spain as well as the fact that this year’s April had two more working days than last year’s due to when Easter falls.
However, despite the April increase, year-to-date car sales are 6.7% off last year’s pace (at 243,042 units) and the market is well down on pre-crisis norms.
Spain’s economy remains firmly in recession, but the car market may see some growth off a severely depleted base as deferred purchases come back on line and buyers opt to take advantage of a scrappage scheme that could end soon.
