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New car sales reach near 20 year low in April

Fri 4th May 2012

Sales of new vehicles in Spain slumped to an almost 20-year low in April as the recession and escalating taxes and austerity measures took their toll on the consumer, industry figures showed yesterday.

Sales fell 21.7% from the same period in 2011 to 56,250, according to a report by the National Association of Automobile Manufacturers, noting that the market shows little sign of improvement in the coming months.

Last year the association noted that car sales fell 17.7% to 808,059 — the lowest since 1993, adding that the April 2012 sales volumes were fare below levels not seen since the early 1990s.

“An immediate result of this continuous fall in the market is that it increases the vulnerability of our factories,” association director David Barrientos said in a statement.

Spain has no major car manufacturer of it's own but plays host to 18 manufacturing facilities for 10 different foreign-owned carmakers, making it the second-biggest producer in Europe after France.