New car sales in Spain fell 20.3% year on year in November.

The tally of 48,155 was not as bad as feared, according to ANFAC, the Spanish car makers’ association.

In October, the government launched a EUR2,000 new car subsidy scheme designed to soften the impact of increasing the value added tax on cars by 3% in September.

The subsidy scheme is funded partly by Madrid and partly by the carmakers.