Spain’s vehicle sales will fluctuate from 1.2m-1.4m from 2011-2020 as the country’s economy recovers and different demand cycles impact the industry, according to leading manufacturers’ federation Anfac.
Anfac said this volume is “normal” for the market’s size, motorisation levels and average fleet age.
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However, the association said demand fluctuations will mean that in some years 1.4m units will be sold while in others 1.2m will be registered.
Anfac forecast 850,000 cars will be sold in 2011, the third consecutive year in which sales will fall under 1m units.
The federation said the consumption rates witnessed during the pre-crunch boom will not return until 2014 while employment is unlikely to recover until 2016.
Moreover, Anfac said an erosion in consumer confidence and difficult financing market will challenge the market in the medium term.
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By GlobalDataIn other developments, Spain’s government on Friday said it would provide EUR215m in aid to boost the car industry’s manufacturing efficiencies.
