New Car Sales Down 11% In July

News: According to the Spanish carmakers' association ANFAC, new car sales in the country plunged by 11% y-o-y in July 2009 to 108,222 units. However, the decline in sales has eased since May following the introduction of a subsidy programme offering EUR2,000 (US$2,800) each to new car buyers. ANFAC expects a boost in 2009 sales by 100,000 units due to the US$284.9mn subsidy.

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