Sales of new cars in Spain reached 114,958 units last month – 31% off last year’s pace.
Go deeper with GlobalData
New car sales in Spain were down 17.6%t at 702,365 in the first half of the year, according to data released by ANFAC.
The June result follows a market collapse in May with sales down by 24% year-on-year – on a seasonally adjusted annualised basis, that was the lowest result in a decade. The result was bad enough to prompt the Spanish government to announce that a new scrapping incentive will be created, starting by the end of July.
Car sales in Spain are being hit this year by a combination of higher petrol prices and a rapidly slowing economy being hit by plummeting property prices.
