Spanish Vehicle Sales Rise by 65.8% YOY
March 30th, 2010
With just two working days left until the end of the month, the Federation of Automotive Dealers (FACONAUTO) is reporting that the passenger vehicle industry in Spain has shown a substantial 65.8% year on year increase during March 2010.
The prediction is that March will end with total sales of 126,883 units, which compares very favourably with last year. March 2009 ended with a downturn of 38.6% compared to 2008 and amounted to sales of only 76,482 units.
FACONAUTO’s data shows an excellent performance in March sales to all passenger car sectors. Sales to individuals saw an increase of 58%, while cars sold for hire or rental had an even greater rise of 131.8%, with 30,382 units registered. Finally, company car sales also continue their upward trend and will close the month with sales of 25,390 units, up 38% from a year ago
A great deal of these increases can be attributed to the Spanish government’s 2000E Plan – the scheme provides a minimum of 2000 euros when cars older than 10 years are taken in part exchange for the new vehicle. March will end with a total of 71,111 vehicles that have been sold and taken advantage of the scheme. In some areas of Spain, 70% of the allotted discounts provided for by the government in the 2000E plan have already been used.
As well as the government’s incentives, current car buyers will also be well aware of the increase in VAT that will occur in July; this will see prices rise by 2% as the purchase tax goes up to 18%.
