Hyundai Motor is offering new customer incentives in Spain’s extremely depressed car market.

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The company has worked out a scheme to cap monthly repayments on loans taken out on its cars.


Thanks to an insurance contract which Hyundai has signed with French CNP, monthly repayments will not exceed EUR600. The firm believes that low monthly repayments could attract prospective buyers to the brand.


In 2008 Hyundai’s car sales in Spain fell 45% to just 21,500 units.


Spain’s car market has taken a big hit from en economic reverasl stemming in large part from the collapse of its property bubble . In December Spain’s car market was 49% under the previous year’s level.

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