Wednesday 1 July 2009

Spanish June Car Registrations -16% On Year Vs -39% In May

Spanish June Car Registrations -16% On Year Vs -39% In May

MADRID (Dow Jonse)--The rapid decline in Spanish car registrations of recent months eased in June because of new government aid for car purchases, Spanish car manufacturers' association Anfac said Wedensday.

Car registrations - an indicator of car sales - fell 16% on the year in June after falling by an annual 39% in May and by 46% on year in April, Anfac said in a statement.

New car registrations by individuals and companies fell by 7.4% on the year in June, while purchases by rental car agencies fell by 42% in June.

The government subsidies boosted individuals' car registrations by 15% on the month in June, Anfac said. It was the first month in more than two and a half years where registrations by individuals grew compared to the previous month.

Spain is offering a EUR2,000 subsidy to new car buyers. The subsidy is funded by EUR500 from the central government, EUR500 from regional governments and EUR1,000 from the manufacturers.

Anfac Web site:

-By Madrid Bureau, Dow Jones Newswires; +34 91 395 8120;

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(END) Dow Jones Newswires

July 01, 2009 05:22 ET (09:22 GMT)

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