New car registrations in Spain dropped 7.2% year-on-year in September to 95,421 units, national carmakers association ANFAC reportedly said, the fourth successive month of falls.

Car sales have dropped since June, Reuters said, adding that economists have seen that as a sign that consumer spending is slowing down as the European Central Bank raises interest rates. Many Spaniards buy cars on credit.

So far this year, car sales in the euro zone’s fourth-largest economy have fallen 2.5% to 1,143,188 units, ANFAC said.

Four-wheel drive car sales rose 6.3% in September to 9,326 units for a year-to-date increase of 8.3%, according to the report.

A breakdown of sales showed Renault and Citroen were the biggest sellers in Spain both in September and in the year to date, the news agency said.

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