Car sales suffer their second largest fall in history
| Date: December 1, 2008 | Source: Europa Press |
| Category: Economy | |
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Loading ... Car registrations stood at 63,068 units during the month of November, representing a fall of 49.6% over the 125,206 units sold in the same month in 2007 and the second largest monthly drop in history, exceeded only by a decrease of 51% in January 1993.
In the first eleven months of the year, sales of cars and SUVs totaled 1.08 million units, resulting in a strong reduction of 26% over the same period last year, which exceeds the fall estimates run to date, who looked back at 25%, today reported associations of manufacturers (Anfac) and sellers (Ganvam).
Ganvam Anfac and explained the decline in enrollment at the persistence of the severity of the economic and financial situation in general, negative factors such as restricting access to credit, the continuing loss of jobs and less disposable income of families .
This is encouraging consumer confidence is equal to a minimum, restricting sales of vehicles. "We expect the measures to be taken by the Government to stimulate demand are implemented quickly," added Anfac and Ganvam.
Distribution channels, sales to individuals and companies not alquiladoras fell 48.8% in November and 28.5% in the first eleven months of the year. For his part, purchases by rental companies sink 64.5% in November and 9.7% so far this year.
MPVs and SUVs, the brunt
The passenger car registrations fell in all regions in both November and in the first eleven months of the year. 69% of cars sold in November were equipped with diesel engines, compared with 31% share for petrol cars, the same proportion than in the full year.
The November data offer authentic 'setbacks' for some vehicle segments. Thus, the supply of large SUVs were down 75.4%, those of major carriers and 74.8% of luxury cars by 72.5%. In the first eleven months, the greatest decreases were for large vans (-54.4%), large SUVs (-52.7%) and luxury cars (-49.6%).
December 6th, 2008 at 12:28
[...] Sales of vehicles in Spain suffered its second biggest fall in history [...]