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Spain's new car registrations surge 26pc in October Tuesday, 04 November, 2014

MADRID  - New car registrations surged for a sixth straight month in Spain in October, jumping 26.1 percent over the same month in 2013, but with total sales still well below pre-crisis levels.

Last month saw sales of 76,073 new cars, according to the automotive federation ANFAC.

In September sales jumped by 26.2 percent against September 2013, thanks mainly to the government's "cash-for-clunkers" incentive programme, although the Spanish economy is gradually recovering after six years of crisis.

Over the first 10 months of the year, sales were up 18.1 percent, to 716,746 units, just shy of the total for all of 2013.

New car buyers receive 2,000 euros ($2,500) if they trade in cars more than 10 years old.

The government plans to renew the programme, which it has offered six times so far, with an injection of 175 million euros next year.

ANFAC predicts total new car sales for the year to reach 850,000 units.

Annual sales were around 1.2 million units before the crisis.



For More Detail: http://nation.com.pk/business/04-Nov-2014/spain-s-new-car-registrations-surge-26pc-in-october
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