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mattyfc

Spanish Car Sales Fall 23.3% Lowest Since 1993

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http://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.cotizalia.com/&ei=CMW_TdQHiJnxA5-smdwF&sa=X&oi=translate&ct=result&resnum=1&ved=0CDUQ7gEwAA&prev=/search%3Fq%3DCotizalia%26hl%3Den%26pwst%3D1%26biw%3D1280%26bih%3D904%26prmd%3Divns

Car registrations reached 71,808 units during the month of April, representing a decrease of 23.3% over the same month of 2010, according to manufacturers' associations (Anfac) and sellers (Ganvam).

The fall of the car market in April, the tenth row, puts the car sales in 1993 levels, because in April of that year 68,635 units were sold, said a Europa Press Anfac sources.

In the first four months of the year, sales of cars and SUVs totaled 279,960 units, resulting in a reduction of 26.3% or 100,000 vehicles in absolute terms when compared with the same period last year.

For channel sales to rebound by 8.6% in the first four months of the year with 88,230 units, while purchases by the 'rent a car' up by 13% with 68,230 units, thanks to the momentum by the Easter holidays.

Home Sales

In contrast, sales to individuals still provide a significant weakness and down 48.2% through April, with 123,098 units, so that companies and rental companies currently account for 56% of the market.

More good news to go with the retail sales, unemployment and house asking prices falling at the fastest rate since 2003.

No doubt the Spanish will welcome further ECB rate hikes and will have no problem paying back all outstanding mortgages and foreign debt..

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....they are keeping the rentals longer, the guy said don't worry about the scratches,.....the biggest shock was the cost to fill up the tank was more than twice the cost of the car rental....leave empty. :o

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http://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.cotizalia.com/&ei=CMW_TdQHiJnxA5-smdwF&sa=X&oi=translate&ct=result&resnum=1&ved=0CDUQ7gEwAA&prev=/search%3Fq%3DCotizalia%26hl%3Den%26pwst%3D1%26biw%3D1280%26bih%3D904%26prmd%3Divns

More good news to go with the retail sales, unemployment and house asking prices falling at the fastest rate since 2003.

No doubt the Spanish will welcome further ECB rate hikes and will have no problem paying back all outstanding mortgages and foreign debt..

They should've SEAT coming

I wonder how much they are down on the equivalent pre 2008 numbers. Even on it's own a 20% plus reduction on sales is enough to take a number of companies down.

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http://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.cotizalia.com/&ei=CMW_TdQHiJnxA5-smdwF&sa=X&oi=translate&ct=result&resnum=1&ved=0CDUQ7gEwAA&prev=/search%3Fq%3DCotizalia%26hl%3Den%26pwst%3D1%26biw%3D1280%26bih%3D904%26prmd%3Divns

More good news to go with the retail sales, unemployment and house asking prices falling at the fastest rate since 2003.

No doubt the Spanish will welcome further ECB rate hikes and will have no problem paying back all outstanding mortgages and foreign debt..

They should've SEAT coming

I wonder how much they are down on the equivalent pre 2008 numbers. Even on it's own a 20% plus reduction on sales is enough to take a number of companies down.

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No doubt the Spanish will welcome further ECB rate hikes and will have no problem paying back all outstanding mortgages and foreign debt..

Precisely. Been making the same point in recent threads on the ECB policy change.

EDIT to add: same trend in Italy

Edited by Greener Pastures

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Better buckle up , the Spanish economy is in for a bumpy ride.

How long before a massive crash? They seem to be running on empty.

Raising rates would be akin to putting sugar in their gas tank.

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They should've SEAT coming

I wonder how much they are down on the equivalent pre 2008 numbers. Even on it's own a 20% plus reduction on sales is enough to take a number of companies down.

Not the manufacturers though (most of whom are foreign owned). Exports are up.

Exports_up

The export of capital goods grew by 38% year-on-year. Per heading, the export of transport material increased by 57.7% and the export of machinery for industry rose by 19.8%. Exports from the automotive sector (16.5% of the monthly total) grew by 19%. Per heading, there was an increase of 31.3% in the export of components and of 13.8% in the export of finished vehicles.

The very poor figure for internal car sales is as a result of the ending of incentives last summer (plan E2000) and also an increase in VAT. But figures are expected to improve after the first quarter in the tourist hire-car market (as tourist numbers have increased), and indeed the April figures already show an increase in the Valencian, Canaries and Balearic provinces.

Spain's main problem is that although it's managing to cut its deficit (and is convincing the debt markets that its tough stance is working - see first link below), the sectors that are performing well are not going to employ the numbers needed

Telegraph article

Guardian Link

Fast growing Spanish businesses do not expect to add to their workforces as they expand into new markets

Spain's successful companies are committed to staying in the country, but are unlikely to generate many new jobs for Spanish workers as they expand overseas.

Concerns about the country's ability to grow and increasing moves to manufacture and develop new products in emerging markets such as Brazil and Russia means the unemployment rate could remain around 20% for several years to come.

Businesses in some of Spain's fastest growing sectors, such as technology and renewables, said they expect to reduce or at best maintain their workforces as they expanded into new markets.

The development is likely to see Spain retain its strong track record as an exporting nation, which has been maintained through the last three years of recession with a steady 1.8% share of world trade despite the rise of China and the far east. But new jobs are likely to go overseas leaving the recovery largely jobless.

Edited by Trampa501

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You have entered...

'The Crumple Zone'

You unlock this car with a lack of imagination. Beyond it is another dimension: a dimension of shite, a dimension of debt, a dimension of denial. You're driving into a land of both shadow and substandards, of fubar'd things and bad ideas. You've just crossed over into... the Crumple Zone.

twizone.jpg

Going my way ....

http://www.youtube.com/watch?v=WAZyXiMspCI

Edited by Saving For a Space Ship

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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